Construction Loans are our Specialty!|
Many lenders do construction loans but no one does them exactly the same way. Most lenders have very tight requirements and lots of red tape. Not AMC! We try to make a construction loan as easy as possible.
You can build without having perfect credit!
When other lenders say No, AMC says YES! We understand credit problems that stop other lenders cold. We require less downpayment and generally offer lower rates.
We won't drive your builder crazy!
Many lenders want to preapprove your builder. They make your builder give them several year's tax returns, profit and loss statements and all sorts of other items that drive up the cost of your home. AMC is builder friendly. Your builder may not have perfect credit and may not have built numerous homes. He may not have plenty of cash on hand to float everything. You can save a lot of money by using a smaller or newer builder who may not have a lot of cash.
We do Modular and Mobile home construction loans!
AMC is one of the few lenders that do mobile home construction loans. We know how to make manufactured housing construction easy!
Lot owners need no cash!
If you own your own lot, you don't need a penny to start construction! All of your costs, including settlement costs can be financed!
One settlement, Low Fixed permanent rates!
Most lenders add something to the rate on your permanent loan. Not at AMC. You usually get a year to construct at a rate at or below Fannie Mae. Then, when you're finished, you convert to a low interest fixed-rate loan at Fannie Mae rates without a second settlement!