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Wisconsin and Illinois New Construction and Lot Loans

Illinois lot loans are no longer available. When they become available in the future we will post an update on this page.

Construction Loans
Illinois construction loans have different program guidelines and rates. Please contact us for details.

Program: Rate: Points/Origination: APR:
3/1 ARM 6.250 0.50 6.360
5/1 ARM 6.475 0.50 6.630

Finance up to 95%
30 day rate lock
60 day rate lock available
1 closing for the construction loan and then no other closings
12 month interest only construction period
Rate fixed until the end of the ARM period
Convert to a 30 fixed rate at the end of the ARM period - NO CLOSING
1/1 ARM available - please contact us for rates

Wisconsin Lot Loans

Program: Rate: Points/Origination: APR:
1/1 ARM 6.850% 0.50 6.964
3/1 ARM 7.000% 0.50 7.155

90% LTV (10% down payment) up to and including 5 acres
80% LTV (20% down payment) greater than 5 acres and up to and including 20 acres
70% LTV (30% down payment) greater than 20 acres and up to and including 80 acres

1/1 ARM and 3/1 ARM available - not convertible to fixed rate
The loan is amortized over 20 years
Must be buildable land
No PMI (private mortgage insurance) required
Homeowners insurance is not required

Minimum loan amount of $25,000.00
Maximum loan amount of $250,000.00

Refinance your current Lot Loan! Inquire for details.


Terms and Conditions

All Wisconsin and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including FHA, VA and Rural Housing
Wisconsin Refinance Illinois Refinance Programs

Current Wisconsin and Illinois Mortgage Rates
About Ameristar Mortgage
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