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Personal
Banking
Real Estate
Get More
From Your Home
Buying a
home is one of the single largest purchases most people make
in their lives. There are several financial benefits to being
a homeowner. Mortgage interest is generally tax deductible,
lowering your tax liability*. A home is an investment that increases
in value as your equity grows. While you are building equity
in your home, you can borrow against it and take advantage of
some tax deductions.
Whether
you are a first time homebuyer or not, American Bank Center offers
a variety of financing options to help make home buying affordable
and manageable for just about everyone. Our Mortgage Loan Officers
work closely with you to simplify the process. American Bank Center's
staff is knowledgeable about the required paperwork to get your
mortgage approved and your loan to closing efficiently and successfully.
The Right
Mortgage
American Bank Center has several programs available with flexible terms and
competitive rates to fit your budget. After visiting with you,
we will decide together which program best fits your needs:
- Conventional
Loans
- Government
Loans
- First
Time Homebuyers
- Construction
Loans
- Home
Improvement Loans
- Home
Equity Loans
- Home
Equity Lines of Credit
How do
I Prepare?
Keep in
mind that American Bank Center's Real Estate department will look
at four factors in making a mortgage decision:
- Income
stability. Verifiable income with a 2-year history that is
in addition to your salary, such as investment interest or
commissions, will work in your favor.
- Loan
to Value ratio. This ratio tells a lender how much equity
you will have in your home. It measures your loan amount to
the value of your property.
- Property
Appraisal. This verifies that the property's market value
justifies the loan amount. A licensed appraiser must complete
the appraisal.
- Credit
History. It is a good idea to check your credit report before
you begin this process to amend any errors or take steps to
improve your credit worthiness.
To determine
how much home you can afford, use a mortgage
calculator.
Building
Your Dream Home?
American Bank Center specializes in construction and offers free pre-qualification.
Contact an American Bank Center Mortgage Loan Officer today by calling
701-483-6811 or 877-483-6811, email
us, or visit the American Bank Center nearest you.
Wondering
What the Rates Are?
Rates change
daily, Please contact us for a no-obligation rate quote.
*Consult your tax advisor.
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