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Construction Loans

Our Construction Advantage Loan Makes It Easy for Members of the Military Community to finance home construction.

  • CheckmarkBuild on your own lot
  • CheckmarkSelect your custom builder
  • CheckmarkFinance the construction of your dream home

Construction Loans for Veterans & Servicemembers

What is a Construction Advantage One LoanSM?

  • Up to 100% financing for building a new home
  • Includes financing for lot, construction and permanent loan
  • One-time credit qualification
  • One-time closing
  • One-time rate lock for better certainty
  • Minimum 680 FICO (credit score) required
  • For primary residence only

What is a Construction Advantage 80 LoanSM?

  • Loan amounts of $125,000 to $1.5 million
  • Up to 80% financing of the home’s value (including the lot)
  • Interest only payments for up to 18 months
  • Finance the construction of your new home
  • Primary residence only on lot you own
  • Minimum 680 FICO (credit score) required

Choose Your Construction Advantage Product

If you’re thinking of building your dream home, but you’re not sure how to finance it, let AAFMAA Mortgage Services LLC (AMS) and our Military Mortgage Advisors help you get the military construction loan you need to break ground. At AMS, we offer two different types of construction loan products to best fit your home construction needs.

Construction Advantage One LoanSM

Buy your lot, build your home, and finance your house with one easy step – the Construction Advantage One LoanSM from AAFMAA Mortgage Services LLC (AMS). We make it easier for servicemembers and Veterans to build their dream home with ONE qualification, ONE loan closing, and up to ONE Hundred percent financing.

Additional benefits include being able to save time and money with a single closing instead of two. We also offer the option of no payments during the construction of the home and no requalification after the construction is complete. This product is VA-guaranteed, providing you with a traditional VA Home Loan after construction of the home is completed. You can also lock your interest rate prior to purchasing the lot.

This product is available to active duty servicemembers and Veterans with qualified credit and a minimum 680 FICO score. The home must be used as a primary residence and must be a one-unit, stick-build house, new manufactured or modular home. Whichever builder you decide to use, they must provide a one-year VA Builder’s warranty on the home and provide periodic inspections of the home while under construction.

Construction Advantage 80 LoanSM

If you already own a lot or you’re buying a piece of property to build on, the Construction Advantage 80 LoanSM provides financing for the home construction. Through this product, AMS offers flexible terms and competitive rates - including up to seven draws to pay your builder as construction is completed and verified. Plus, you only pay interest payments during the term of the loan, usually 12 to 18 months. Once the home is completed, AMS can help you obtain a permanent mortgage from a wide range of options including VA, FHA, USDA, and conventional loan products.

Speak with one of our Military Mortgage Advisors today and take the next step toward building your dream home. We can discuss which product may be right for you. Give us a call 844-247-4208 or contact us for current rates and additional details.


Important Notes and Disclaimers:

Construction Advantage products are offered exclusively by AAFMAA Mortgage Services LLC (AMS) to qualified borrowers who are current or former US military servicemembers. The Construction Advantage 80 LoanSM is not associated with the Veteran’s Administration (VA), it is a proprietary loan product offered by AMS. The information above is not a commitment to lend. All loans are subject to credit approval. Underwriting criteria are subject to change without notice. The Construction Advantage loans are only available in states where AMS is licensed (see our complete list of states and licensing here). For additional disclosures, see the links at the bottom of this page.

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