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Types of Loans

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.

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:  101% financing (with 1% fee) for area population sizes under 35,000, minimal annual fee paid monthly, household income restrictions per county.
  • Refinancing: Streamline refinance option without appraisal.

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.
  • Save yourself thousands with our one time close construction loan. Call today for more details! 
  • Knowledgeable lenders to coordinate transition to permanent financing.

Home Possible Program

  • Purchases: 97% financing with reduced monthly mortgage insurance. Down payment can be gifted. County income limits apply.

HARP Program

  • 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.

Jumbo Loans

  • Fixed or variable interest rate options for mortgages greater than $424,100.
  • 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.

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.
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  • Privacy Policy

 

© American Heritage Bank, Member FDIC deposits insured up to $250,000 per depositor.

At times, we may provide links to sites outside the control of our institution. We do not make any representations concerning the linked sites' contents or availability. You should review each site's privacy and information security policies carefully before you enter confidential information.

Investment, Insurance and Advisory Products and Services, and Foreign Exchange Transactions, are Not FDIC Insured or Insured by Any Federal Government Agency, Not a Deposit, Not Bank Guaranteed and May Lose Value.

American Heritage Bank

2915 2nd Street South
PO Box 160
St. Cloud, MN 56302-0160

Phone: (320) 257-5000
Fax: (320) 257-5001

www.LogBank.com

 

© American Heritage Bank, Member FDIC deposits insured up to $250,000 per depositor.

At times, we may provide links to sites outside the control of our institution. We do not make any representations concerning the linked sites' contents or availability. You should review each site's privacy and information security policies carefully before you enter confidential information.

Investment, Insurance and Advisory Products and Services, and Foreign Exchange Transactions, are Not FDIC Insured or Insured by Any Federal Government Agency, Not a Deposit, Not Bank Guaranteed and May Lose Value.