Home Construction Loans

Build your dream home with help from Alpine Credit Union. Our construction loans have several options to fit your specific building needs, such as:

Closing Options:

Alpine Credit Union handles the financing and draw stages of your home’s construction. You will then arrange for the permanent mortgage financing. This means you will have to re-qualify for your mortgage and pay another set of closing costs. This allows you to take advantage of current market rates, at the time of your mortgage closing, which may decrease during the construction phase.

Construction Terms:

The construction loan term is up to nine (9) months. This allows you time to ensure your home is built to your specifications and standards. Alpine Credit Union allows a three (3) month extension in the event construction is delayed. This extension is approved on an individual basis.

Local Draws:

Your builder and subcontractors will require payment for materials and work performed during the course of construction. These draw requests are reviewed and signed by you and your builder. Alpine Credit Union then advances your construction loan and pays your builder and subcontractors. We turn around draw requests in one day.

Start your application process today by “APPLY NOW” for an Alpine Credit Union Construction Loan.