Loan

Aug 8 2017

Construction Loans #student #private #loans

#construction loans
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Construction Loans

Just because it’s called a “dream home” doesn’t mean it can’t exist in reality. Make it happen with a construction loan from American Bank. Whether it’s financing a cabin, or buying vacant land, we’ll find a loan that works for you.

Summary

American Bank is excited to offer a Fixed Rate Construction Loan Program!

30 YEAR FIXED RATE

ONE TIME CLOSE

UP TO ONE YEAR CONSTRUCTION PERIOD

Annual Percentage Rate of 4.38% effective 2/1/2015 for a limited time. Credit Score of 700 or higher required. Maximum combined loan-to-value up to 80% or less. Other qualifying ratios and terms may apply. Borrower pays all closing costs. A typical repayment example on a $250,000 loan: Interest on the amount of credit outstanding during the construction period will be paid monthly, followed by 359 monthly payments of $1,229.89 and one final payment of $1,230.57. Payments do not include amount of taxes and insurance premiums, if applicable, and the actual payment obligation may be greater. Rates and loans are subject to American Bank underwriting guidelines and credit approval.

Written by CREDIT


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