Construction-to-Permanent Home Loans

Eligible Homes

• Primary residences only

Loan Amounts

• Financing available up to $3.5 million
• Land may be included if purchased as part of the build.

Down Payment & Equity

• Up to 80% LTV

 During Construction

• Interest-only payments during the construction phase
• Funds are released in stages (draws) as construction progresses
• Inspections are completed before each draw to protect you and the lender

Once Construction Is Complete

• Loan automatically converts to a permanent mortgage- No second closing required
• Monthly payments switch to principal & interest and an Escrow account for Taxes and Insurance will be created.

Loan Timeline

• Construction period: up to 12–18 months
• Permanent loan term: up to 30 years

Builders

• Builder must be activated by the credit union
• Owner-builder projects are not permitted