Ready to build your dream home? Credit Union of America is here to help you turn your vision into reality! Unlike traditional mortgages, construction loans provide the financing needed to build your home from the ground up. Whether you crave the peace of rural living or the excitement of the suburbs, we have the construction loan to bring your vision to life.
Residential New Construction Loan
Our Residential New Construction Loan offers a one-stop-shop approach to financing your home build. By providing land, construction, and permanent financing in one place, we simplify the process and save you time! Plus, this brand-new loan option offers even more fantastic benefits, including:
- Up to 90% Loan to Value (LTV)
- The ability to apply site land equity to your down payment
- Interest-only payments during construction
- Opportunity to lock in a long-term rate
- Preapprovals and commitment letters available
Lot & Land Loan
Secure your dream home's foundation with our Lot and Land Loan! Whether you dream of a peaceful rural escape or a suitable suburban lifestyle, this loan can help you attain the perfect lot for your build. Enjoy additional features like:
- The ability to use the land equity as a down payment for the build
- 5-year or 10-year conventional fixed-rate term
- Local underwriting and servicing
- Preapprovals and commitment letters available
No matter which construction loan option best aligns with your vision, CUA is here to guide you every step of the way. You'll benefit from our friendly service, local expertise, and commitment to making the homebuilding process smooth and enjoyable.
Ready to get started? Our simple, streamlined mortgage process makes starting on your dream home easier than ever. Apply for a loan and start your construction loan journey with CUA today!
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