One Time Close Construction Financing

AMC Mortgage is a leader in Texas construction financing. We have been commiteed to builders and homeowners that wish to build for over a decade and continue to dominate this market in experience and service. AMC Mortgage started as a family owned business in the heart of Texas in 1992. We have grown loan by loan, and home by home into Austin's premier lender for new home construction. While still delivering the lending power of a big name bank, we give you the ethics of a small town lender.

One time close construction financing is a program that is designed primarily for three scenarios. Do you wish to purchase land and build home on it within a year, build a home on a current lot, or add on to your current home? Let AMC mortgage be you professional consultant throughout the process.

How does a typical one time close transaction work?

Contract Amt.--------$200,000
Land-----------------$55,000
Closing Costs---------$7,000
Interest Reserve------$8,000
Modification Acct.-----$8,000
Contingency----------$10,000

Total Project---------$288,000

Appraised Value------$320,000

MAXIMUM LOAN IS 90% OF THE TOTAL APPRAISED VALUE

$320,000 x .90 = $288,000

BORROWERS CASH AT CLOSING-------$0.00

When you can assist people with fulfilling their dreams everyone wins.

Erick Frazier
AMC Mortgage Consultant
512.751.8275