12 First Time Buyer Programs - #9: American Home Partners

12 First-Time Buyer Programs – #9: American Home Partners

Buying a home is not just about finding your dream home.  After all, if you don’t have financing, you can’t get that house!   Our goal is to help you not only find that dream home but to purchase that home once you find it.  Here are 12 Special Financing Programs for First-Time Buyers.

#9 – American Home Partners

The 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.

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.

For more information about The American Home Partners and other Financing Programs for First-Time Buyers, visit our website.

As always, let us know how we can help you achieve your home buying goals!

Emcee Arah
RE/MAX Excellence Realtor with Architectural Dimension
Serving all your Real Estate needs in MD, VA & Wash., DC