Construction Loans

Program Overview

Construction loans are loans borrowed to finance the construction of a home and typically only interest is paid during the construction period.  Once the construction is over, the loan amount becomes due and it becomes a normal mortgage.

The money is advanced incrementally during construction, known as draws, as construction progresses.  The advantage of such plans is that you have to apply only once and you will have only one loan closing.

Typically, 20% is the minimum down payment required for a construction loan – some lenders may even require as much as 25% down.  As a premier lender, American Mortgage & Equity Consultants, Inc. is able to offer construction loans starting a 5% down!

This unique loan program allows prospective homeowners the chance to get into their dream home without having to build up an often-unattainable down payment.

The best part of this program is that the construction loan rolls into a permanent mortgage automatically once the home is completed.  The advantage of this is that there is only one closing, one set of fees, and the ability to lock into today’s low mortgage rates!

Have Additional Questions?

If you have additional questions about getting mortgage help, we are available 24/7 to answer any questions you have about the Construction Loan program. Give us a call at (920) 623-4902.

We can will help you understand your options, design a plan to suit your individual situation and prepare your application.

Get Pre-Approved Today!