Residental Home Mortgages Options
We look forward to putting our mortgage services to work for you!
We offer the best mortgage tools available on the Internet, and our application process is easy, convenient, and quick. Our diversified process can accommodate your busy schedule offering three convenient ways to complete your mortgage application: over the phone, over the internet, or in person. With our veteran mortgage lenders, you can be assured you will be guided through the often challenging process of finding the right loan to meet your specific needs.
By clicking on "Mortgage Application" below, you will have the opportunity to fill out the easiest and most streamlined mortgage applications in the industry. Shortly thereafter, one of our expert mortgage lenders will reach out to discuss your goals, the pros and cons of each loan program, and provide you with a free pre-qualification letter.
Thank you again for choosing American Heritage Bank for your home loan needs. We look forward to putting our knowledge and years of service to work for you!
Conventional Mortgage Loan
- Purchases & Refinancing: Best pricing for interest rates on 30 year, 20 year, 15 year, 10 year fixed rate loans or 10 and 7 year adjustable rate loans.
- Pick your amortization 8-30 years.
Veterans Affairs (VA) Loan
- Purchases: 100% home financing for qualified veterans, no monthly mortgage insurance, loans are assumable.
- Refinancing: Regular refinance to 95%, existing not need be VA. Streamline option (IRRRL) with no appraisal or income verification.
Federal Housing Administration (FHA) Loan
- Purchases: Home financing with only 3.5% down payment, require 620 credit score.
- Refinancing: Regular refinance up to 97.75%. Streamline refinance option with or without appraisal, no income qualifying.
Rural Development (USDA) Loan
- Purchases: 102% financing (with 2% fee) for area population sizes under 35,000, minimal annual fee paid monthly, household income restrictions per county.
- Refinancing: Streamline refinance option without appraisal.
Home Possible Program
- Purchases: 95% financing with reduced monthly mortgage insurance. Down payment can be gifted. County income limits apply.
- Refinancing: 200% of first mortgage for Fannie/Freddie originated loans prior to June 2009, appraisal waivers in most cases, no mortgage insurance if none with existing loan.
- Eligible properties include primary, 2nd home, and investment properties.
- Fixed or variable interest rate options for mortgages greater than $417,000.
- Up to 90% financing available.
Home Equity Lines of Credit
- Revolving line of credit with monthly payments of interest only.
- Available to owner and non-owner occupied property.
- Can combine with 1st mortgage to avoid mortgage insurance.
Minnesota Housing Finance Association (MHFA) Fix Up Loans
- Improvement costs to upgrade the livability, accessibility, or energy efficiency of your home, including any new additions and renovations.
- Up to $50,000 and 110% financing.
- Secured and unsecured loan options.
New Construction or Home Improvements
- Flexible terms to suit your needs during construction.
- Local decision making and servicing.
- One-time close program with numerous permanent loan options.
- Knowledgeable lenders to coordinate transition to permanent financing.
Land Purchase Loans
- Financing for any residential lot or rural acreages.
- Receive credit toward construction financing or permanent financing when you are ready to build.
Secondary Home Purchases and Residential Investment Properties
- Quick pre-qualifications to purchase 1-4 family residential properties.
- Affordable closing costs, competitive rates, and customized payments to fit your needs.
- Cash out refinancing available for personal or business purposes.
- Vacation homes and lake cabins financing anywhere in-state with local closings and servicing.