DECEMBER 16TH, 2018

American Log Mortgage

Who would have guessed that the log home market was big enough to support a loan market of its own?  Well American Log Mortgages did and they have carved out that niche for themselves.   The log home market is a growing segment of the home real estate market.  Previously relegated to summer cabins and vacation homes, the log home is enjoy a renaissance these days.  Many home owners are choosing a log home for their primary residence.   These are primarily kit homes that can be customized to the individual buyers needs.  They also may be constructed from plans like any other home, but the majority come from log home dealers ready to assemble.  This sort of construction requires a special set of loans to go along with the log home construction process.  This is the specialty of American Log Mortgage.

American Log Mortgage’s lending specialists will take the time to get to know the specific needs of their clients.  A loan program will then be tailored to fit the clients requirements.  Innovations such as using land for the down payment and a  360 day rate lock are the hallmarks of an American Log Mortgage loan.

Loans Offered by American Log Mortgage

  • One Time Close Construction to Permanent Financing
  • Interest Only Loans
  • Jumbo Loans
  • Fixed Rate Loans
  • Adjustable Rate Loans
  • 100% Construction-Permanent Financing
  • Owner General Contractor Programs

American Log Mortgage is a division of American Home Bank and lends in 48 states ( Alaska and Hawaii are excluded).  They do not charge the extra fees of a broker, saving the clients money.   American Log Mortgage explains to the builder the log home process and the construction draw schedule.  They set up a flexible schedule for the builder and have construction terms of 6,9,12,18 and 24 months.   Log and timber frame homes are not required for comps (comparisons) for the appraisal.  Their website outlines eight easy steps to building and owning a log home.  Beginning with 1) prequalification, 2) moving on to the actual application,  then the 3) appraisal process (a bit complex as the home is now only plans and materials!), they then set up a 4) disbursement schedule, an 5) initial settlement is given, 6) the construction takes place, 7) a rate is locked in for the permanent loan and 8) the construction loan is converted to a permanent loan.   Et viola! It’s time to move in!

American Log Mortgage understands the special needs of building and financing a lo home.  They are able to offer guidance to the home owner and the general contractor in this area.  They guarantee customer satisfaction and have been  designated a Top Mortgage Lender three years in a row as of June 2005.  They can be contacted by phone, fax, internet or at their home office in Mountville, Pennsylvania.

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