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American Home Partners
American Home Partners

Program Overview

American Home Partners is a proven construction loan program that enables hard working families to get into a new home without a big down payment or perfect credit. American Home Partners will finance up to 95% for the purchase of the land and 100% of the cost of materials, labor and related items to build a new home. Most of the continental United States qualify for the program. All of Maryland is eligible for this program.

Property Eligibility Requirements

Allowable property types: single family homes

Benefit Details

You do not have to make payments on the loan while you are building so you won't have to worry about paying rent and paying on the new house at the same time. Benefit: American Home Partners handles the supplying of the house plans, arranging for delivery of materials and paying the subcontractors. They also provide construction support. The term of the construction loan is 12 months with a 10.9% interest rate and a 13.58% APR. Most importantly, no payments are required during the construction period. However, interest will continue to accrue during the construction period and will be due and payable when you obtain permanent financing to repay the construction loan. You must choose one of their 19 home models to build and cannot use your own or someone else's home plans. Loan Term: 12 years Owner Occupancy Required: Yes Other Program Comments: You can visit their website at: http://www.americanhomepartners.com

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.