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Take Advantage of Our Construction Products

If you’re thinking of building a new home, but you’re not sure how to finance it, let us help you get the military construction loan you need to break ground. We offer a range of construction loan products to best fit your home construction needs.

Construction Advantage 80℠ Loan

  • Minimum 680 FICO® (credit score) required
  • Interest-only payments for 12 months, or until construction is complete
  • Up to 80%* Loan-to-Value (LTV) based on estimated appraised value of land and home
  • Competitive rates on short-term financing
  • Loan amounts of $200,000 to $2 million
  • Get your loan processed and approved within 30 days
  • Primary residence only on lot you own
  • No mortgage insurance required

If you already own a lot or you’re buying a piece of property to build on, the Construction Advantage 80 Loan 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, 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 at 844-422-3622 or contact us for current rates and additional details.

*For loan amounts over $1,000,000, maximum 75% Loan-to-Value (LTV).

Land Advantage Loan℠

  • Minimum 680 FICO® (credit score) required
  • Finance the purchase of up to 20 acres of land
  • Get a loan for up to 75% of the appraised value of the land – the Loan-to-Value (LTV) must be ≤ 75%
  • Land must be zoned for residential use only and must meet the minimum water and sewage requirements
  • Loan amounts from $75,000 to $500,000
  • Up to a 15-year loan term is available
  • Land must be used for a new home build for primary residence only

The Land Advantage Loan℠ from AAFMAA Mortgage Services LLC (AMS) allows servicemembers and Veterans to finance the purchase of a plot of land. This unique product is great for first-time homebuyers looking to build their starter home, or retirees who want to build their dream home.

Today's Mortgage Rates

Disclaimer: these are sample rates and terms based on daily pricing that fluctuates and is subject to change and credit approval. Parameters: 720+ FICO, Single-Family Residence, $300,000 loan amount, State = NC, County = Wake, Discount Points range from 0.0% to 2.0% as shown above, Admin Fee = $1149. For VA Home Loan, assume a 2.3% VA Funding Fee.

Ready to apply? Take the next step with a loan application.

Important Notes and Disclaimers:

Construction Advantage products are offered exclusively by AAFMAA Mortgage Services LLC (AMS) to qualified borrowers who are current or former U.S. military servicemembers. The Construction Advantage 80 Loan is not associated with the Department of Veterans Affairs (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.