Anyone who is considering building a home knows that there's been no shortage of news about the state of the U.S. mortgage market. Katahdin Cedar Log Homes has weathered the ups and downs of past real estate markets. As a result, we have developed relationships with mortgage lenders who are not only well-versed in the special needs of log home construction, but have attractive financing available for qualified buyers.

If you've had a chance to visit our newly launched website, you'll see that we have information and links for three mortgage lenders: American Home Bank and M & T Bank. We recently spoke with representatives of each institution and found that they are offering competitive products that are designed specifically for log home construction, as well as holding strong positions that have enabled them to succeed in today's difficult marketplace.

At American Home Bank N.A., Greg Ebersol, the loan originator working closely with Katahdin, said that his organization has not changed its policies to finance well-qualified buyers and their log home construction.

According to materials Ebersol provided, American Home Bank CEO Jim Deitch wrote, "As a national bank we can stand by our commitments and fund loans. We did not get on the subprime bandwagon and as a result we remain very well capitalized and have plenty of money to lend and fund loans." American Home Bank was formed in 2001 as a privately held national bank. The bank's focus on residential finance, specifically in the new construction market has resulted in more than $3.5 billion in closed loans since its inception.

M & T Bank is another lender who works closely with Katahdin. John Kauffman, M & T Bank Account Executive, provided a statement noting his financial institution's cautious and moderate approach to the mortgage market. "M & T has been a conservative and prudent bank through the years when other institutions were making marginal loans and introducing creative financing methods to get customers that normally would not have or should not have obtained financing," according to the document. "Due to the diligence of M & T's practices we have not and will not see the problems our competitors are facing. Our third quarter earnings are expected to be as strong if not stronger than recent quarters."

According to David Gordon, President of Katahdin Cedar Log Homes, "We have been able to position ourselves favorably in the market and work with lenders who maintain the same fiscally conservative approach to real estate as we have. Our sound planning and attention to our customers' needs has enabled us to maintain a positive position in a slowing market."