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

(888)-262-6685

Custom Loan Quote
First Name
Last Name
Email
Phone
Loan Amount
MMG Report
In The News...
Americans filing for first time unemployment benefits are hovering near seven-year lows as employers are slowing the pace of layoffs. The Labor Department reported that Weekly Initial Jobless Claims came in at 304,000, below the 312,000 that was expected....

Choosing The Right Program

How do I choose the right mortgage?
In today,s loan market, you have a variety of programs to choose from—fixed-rate, adjustable rate, FHA, VA, special loans for teachers—the list goes on and on. Our Mortgage Professionals are here to help you examine your needs and long-term goals and find the program that is right for you. We have mortgages that are geared toward both first-time and experienced homebuyers. Whatever your financing needs are, we can make your home purchase a smooth move.

Mortgage Terminology
Here’s a basic overview of the most important terms:

  • Points
    Points are often misunderstood, they are actually a good thing to use to ‘buy down” your interest rate.  If you are planning on staying in the property long term, points can save you tens of thousand of dollars over the life of the loan.  Generally speaking, one point equals 1% of your loan amount.
  • Fixed Rate
    This means that the rate is locked in for the life of the loan.  Some loans are fixed for shorter lengths of time, e.g., 3 yeasrs, 5 years, 7 years, etc. – these loans generally convert to Adjustable loans after the fixed rate term of the loan.
  • Adjustable Rate Mortgage
    Also called an ARM or variable rate note, this is a note that generally offers a lower initial APR for the first year and then can change periodically based on the terms and conditions of your note. Check to see if your ARM has a cap rate so that if rates increase, your change cannot exceed a certain pre-defined limit.
  • Term
    Term refers to the length of the loan in years.
  Americana Mortgage Group
1615 Northern Boulevard, Suite 404
Manhasset, NY 11030
Phone (516) 627-0200
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.
Staff
Our Staff Members.
Realtors
Our favorite real estate agents.
Cities we serve
448 | 47

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