Are you ready to build your dream home? The Single Loan Close Construction Program makes the mortgage process as simple as possible and allows you to focus on the details of building your new home.
What is the Single Loan Close Construction Program?
The ETFCU Single Loan Close Construction program helps streamline the process of building your home and securing permanent financing. A single loan covers your construction costs and mortgage. One loan. One closing. One easy process.
What are the Benefits of This Loan Program?
Down payment as low as 5% up to conforming loan limits of $484,350
Jumbo loan financing available with 20% down over conforming loan limits
The construction loan and lot purchase can potentially be completed at the same time
Construction periods of 9 months to 12 months available depending on the size of the project
Interest-only payments on outstanding loan balance during construction. Escrow payments and PMI (private mortgage insurance) will be due monthly as well if applicable
Loan terms up to 30 years, as well as 5-year, 7-year, and 10-year Adjustable Rate Mortgage options.
Dedicated construction loan specialist to facilitate draws during the construction period
Buildertrend gives you access to your homebuilding or remodeling project in real-time, with the ability to share selections, sign change orders electronically, and monitor progress with photos and a shared calendar.