30 MARCH 2017 – Just last week, AAFMAA Mortgage Services launched a new product: the permanent construction loan. We are proud to become the first exclusively military-oriented mortgage company to construction-to-permanent loans, which are the most popular type of construction loans.
With construction-to-permanent loans, the lender advances the money to buyers to pay for the construction. Then, this amount to cover the construction debt rolls into a standard mortgage. This loan offers critical advantages to buyers of brand new properties.
We understand the allure of designing your dream home. After all, the new home market is experiencing major growth, and experts predict this trend will continue.
With an upcoming change in capital standards, more banks and other financial institutions are veering away from offering construction-to-permanent loans. So, if you’re a member of the military community looking to building your next dream home, check out what we have to offer.
Click here to read the official announcement.