What Factors Determine Mortgage Interest Rates?

By JL LLavina / December 15, 2016

  Now that you’re ready to purchase a home, it’s important to understand how you can get the best interest rate for your loan. As any lender will tell you, getting the lowest possible interest rate can save you thousands over the life of your loan. But how can you get a lower rate? Here…

Read More
excavator doing construction

3 Benefits of a Construction Loan

By JL LLavina / December 15, 2016

For people in the housing market looking to personalize their home, a construction loan can be a great option. Construction loans can be used to build a new home or modify an existing one. American Loans and Mortgages offers a number of options for construction loans in Salt Lake City and all over Utah. For people…

Read More
paint cans for home improvement

3 Benefits of a Home Improvement Loan

By JL LLavina / November 14, 2016

Taking out a loan to remodel your home is a popular practice among homeowners with fix-ups on their hands. For those with collateral, many types of secured loans present major benefits down the line after the home improvement process has taken place. Here are a few reasons why these loans are so beneficial. Low Interest Loans…

Read More

When Is the Best Time to Apply for a Mortgage?

By JL LLavina / August 17, 2016

There’s a lot more to pay attention to than just the current interest rates when you apply for a mortgage. Know that you have more influence than you might think in regards to the type of mortgage you get and the terms you receive. Learn when it’s time to pounce on a mortgage and when…

Read More

What You Need to Know About Private Mortgage Insurance (PMI)

By JL LLavina / June 10, 2016

Prior to the recession, many homeowners were able to take advantage of generous lending options that often included financing as much as 100 percent of a home’s value. While this is great for a potential homebuyer who doesn’t have the money for a large down payment, it was risky for lenders. When the recession hit…

Read More

Important Factors to Consider Before Buying a Rental Property

By JL LLavina / May 2, 2016

Rental properties make for great investments, but they’re a business venture you shouldn’t enter into lightly. While American Loans is happy to handle the mortgage for your rental property, we also want you to be well-informed on where your money, time and energy are going. Learn what you should bear in mind while seeking out…

Read More

4 Ways to Improve Your Credit Score

By JL LLavina / April 2, 2016

There are a lot of things to think about if you are planning to purchase a new home, but perhaps the single most important thing to know is your credit score. Your credit score determines the interest rate you will get on the loan, and since most mortgage loans will last at least 30 years,…

Read More

Top Questions to Ask When You Want a Loan

By JL LLavina / March 2, 2016

If you are in the market for a loan, whether you are a student, homeowner or potential vehicle owner, it is of the utmost importance to ask the right questions of your future lender. The answers to these inquiries will help you figure out the details of your loan’s interest rate, repayment plan and more.…

Read More

Understanding Jumbo Mortgage Loans

By JL LLavina / February 5, 2016

The median price of a home sold in the U.S. in early 2016 was $188,900. While that might buy you a small castle in some housing markets, in others you will need to borrow a lot more just to get a place big enough for your family to call home. Borrowers that plan on taking…

Read More

Do You Owe More Than Your Home Is Worth?

By JL LLavina / November 10, 2014

Lower your payment even if you are upside down on your home Our HARP program goes up to 200% of the value of your home If you have PMI it will not increase with the new loan! Your loan must have closed no later than May of 2009 to qualify

Read More