An American mortgage is a non-purpose loan, where you do not tell the bank how the funds will be used, unlike a conventional mortgage. For example, you can use the money to buy home furnishings, finance studies or run a business. A US mortgage requires a property guarantee. Compared to consumer loans, a US mortgage secured by a lien on the property will give you a better interest rate.

Advantages and disadvantages of an American mortgage
By securing your property with a mortgage, you can get a better interest rate than with consumer loans. You can borrow from the lower hundreds of thousands up to several million crowns. You can spread the monthly payments of a US mortgage over a very long period of time, typically up to 20 years. As with a conventional mortgage, when you take out an American mortgage, you determine the length of time the interest rate is fixed. During this time, you can be sure that the amount of your monthly US mortgage payment will not change.