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 Routing Number: 323276524

Construction Loans

Have you always wanted to design and build your dream home?
Building the home you've always wanted just got easier!


From purchasing land to construction and permanent
financing, we are here to guide you through the process.

 

Loan or line

Interest*

Length/Details

Land-Only Loan

6.250% Rate

6.704% APR Fixed

  • Short-term lot loan allows you to finalize your house plans and commence construction
  • Buy with as little as a 25% down payment**
  • When you’re ready to build, roll the balance of your land loan into our Construction One-Time Close Loan
  • Interest-only payments

One-Time Close Loan

Mortgage pricing based on market rates at completion

Interim financing rates based on Prime plus a fixed margin

  • Construction and permanent financing for your personal residence are combined into one loan with one closing
  • Lock in your permanent financing interest rate up to 60-days prior to your home being completed
  • Interest-only payments during construction
  • 20% equity required
  • Jumbo, Fixed, and Adjustable Rate Mortgages available

Two-Step Loan 

Mortgage pricing based on market rates at completion

Interim financing rates based on Prime plus a fixed margin

  • Separate financing during construction with 20% equity required
  • Prequalification for permanent financing required
  • Interest-only payments during construction
  • Quick and easy mortgage application process with mortgage experts ready to serve you
  • Jumbo, Fixed, and Adjustable Rate Mortgages available

Apply online now!

If you'd like more information, email us at mortgagehelp@nwcu.com. We'll respond within one business day. 

*Rates shown are Annual Percentage Rates (APR). Land-only loan assumes $150,000 with interest-only payments and a balloon payment due in 36 months. Rates will vary depending on credit condition, term of loan and payment option. All loans are subject to approval. Regular terms and conditions apply. Rates shown are subject to change without notice. Loan terms available may vary depending on amount borrowed, credit history, or payment method. Rates shown may be based on auto pay participation. Call or see branch for details. NWCU is an Equal Opportunity Lender.

**Minimum of 25% down payment required. APR Fixed based on $150,000 loan amount.