Americana Mortgage Group Home | About Us | Contact Us
need help?


Custom Loan Quote
First Name
Last Name
Loan Amount
MMG Report
In The News...
The foreclosure sector of the housing market received positive news this morning after Black Knight Financial Services reported that foreclosure inventory for September is at the lowest level since February 2008, at 1.76% of active mortgages. However,...
Equity Loan vs. Credit Line
A Home Equity Loan:
A second mortgage loan: This type of loan provides you with a fixed amount of money repayable over a fixed period. Generally the loan calls for equal payments that will pay off the entire loan within that fixed time.

A Home Equity Line of Credit
A home equity line is a form of revolving credit in which your home serves as collateral. Many homeowners prefer to use their credit line for items such as education and home improvements, not for day-to-day expenses. With a home equity line, you will be approved for a specific line of credit. That amount is the maximum you can borrow at any one time while you have the credit line.

Home equity plans typically include a fixed time during which you can borrow money, such as 10 years.

Once approved for a line of credit, you will typically be able to borrow up to your credit limit whenever you wish.

APR and Equity loans
  • The APR for a traditional mortgage takes into account the interest rate charged plus points and other finance charges.
  • The APR for a home equity line is based on the periodic interest rate alone. It does not include points or other charges.
  Americana Mortgage Group
NMLS# 22338
1615 Northern Boulevard, Suite 404
Manhasset, NY 11030
Phone (888) 262-6685
Fax (516) 627-0229

State Licensing Information|Privacy|Legal|Patriot Act
Equal Housing Opportunity

All content 1999- MorSystems™ All rights reserved.
Account login
Americana Mortgage Group - Site Map

Homebuying Center
Mortgage and lending information for purchase and home buying loans.
Refinance Center
Mortgage and lending information for refinance loans.
Home Equity Center
Mortgage and lending information for home equity loans.
Learning Center
Mortgage, lending, and credit information.
Less Than Perfect Credit
Learn how credit scoring works and how you can improve your credit score.
Financial Calculators
Financial, mortgage and lending calculators.
Commercial Loans
Commercial loans programs and information.
Construction Loans
Commercial loans programs and information.
Interest Only Loans
Interest only loan programs and information.
Relocation Loans
Relocation loan programs and information.
About Americana Mortgage Group
Mortgage Options & Programs
In The News!
Loan Agents
The best loan agents.
Our Staff Members.
Our favorite real estate agents.
Cities we serve
New York, New Jersey, Connecticut, Florida
156 | 26

Mortgage web site design powered by MorSystems. Get your own mortgage website at Free trials for all mortgage websites.