After what seems like a lifetime of hellos, good-byes, moving trucks, and “not-so-forever” homes, you may be counting down to the day when you or your spouse retires and you’re finally able to build the house of your dreams. But there could be one thing stopping you… how you’ll actually do it. Well, you’ve got options, and this is a good place to start:
Here are 2 construction loan products offered by AAFMAA Mortgage Services LLC (AMS) that you’ll want to know about.
NEW! Construction Advantage One LoanSM
- Available to active duty servicemembers and Veterans with qualified credit and a minimum 640 FICO score
- VA-guaranteed
- One qualification, one loan closing, and up to 100% financing
- No down payment required
- Don’t have to make any payments until the construction is completed
Construction Advantage 80 LoanSM
- Available to active duty servicemembers and Veterans with qualified credit and a minimum 680 FICO score
- Serviced by AMS
- Flexible terms and competitive rates
- Two qualifications, two loan closings
- Includes up to seven draws to pay your builder as construction is completed and verified
- Requires a down payment and interest-only payments right away that balloon after 12 months
Learn all about these two construction loan options for Veterans and military families from AMS.
More AMS Tips for Building Your Dream Home:
Solutions for Your Military Family:
Life Insurance, Wealth Management, Home Mortgages, Survivor Services, and more. Learn more about AAFMAA.
