American Financial Resources (AFR) has brought back its conventional one-time close (OTC) financing, which allows qualified borrowers to secure loans that combine the cost of home construction, lot purchase or land payoff, and permanent mortgage loan into a single closing.
National Mortgage Professional
Rounding out AFR’s comprehensive suite of OTC financing, Conventional OTC allows qualified home buyers to secure loans that combine the cost of home construction, lot purchase or land payoff, and permanent mortgage loan into a single closing, according to a press release.
American Financial Resources, Inc. (AFR) has reinstated its Conventional One-Time Close Construction-to-Permanent financing and will begin accepting new applications on May 3, 2021.
After speaking with several other female mortgage executives in celebration of International Women’s Day, I wanted to take the opportunity to highlight a few women leaders who are making waves.
AFR President Laura Brandao as quoted in this article, “At AFR, we’ve seen an increase of more than 10% in loan volume specifically for manufactured homes, year over year, for the last two years,” said President Laura Brandao in an email.
American Financial Resources, Inc. (AFR) announces an enhancement to their One-Time Close Construction-to-Permanent (OTC) program — increasing the maximum amount of initial disbursement for land acquisition or payoff to $150,000, doubling the prior initial disbursement limit.
American Financial Resources on Tuesday announced it added conventional financing for a particularly small and affordable type of manufactured home that could be used to help address inventory shortages in the market. As one of the few mortgage firms that finances singlewides, AFR’s decision to offer the product will lend momentum to major government-sponsored loan buyers’ efforts to expand their manufactured housing programs.
As President of American Financial Resources, Laura Brandao is the magnetic leader who helped launch a needed networking organization for women in the mortgage industry, while cementing AFR as one of the nation’s leading specialty lenders.
American Financial Resources, Inc. (AFR) now offers Conventional financing for singlewide manufactured homes, in addition to their existing financing options for singlewides from the Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA).
Home prices continue to skyrocket across the country, putting the American dream out of reach for many people. One solution to this price crunch is manufactured housing.
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