Brand Brand Brand New Construction Loans
We are going to assist you build it
RBFCU offers one-time close construction loans with versatile terms, built to allow you to fund the building of one’s brand new home.
These loans provide a short-term, fixed-rate construction duration which converts to a permanent fixed-rate home loan upon conclusion of construction. Throughout the application procedure, RBFCU will need the debtor to supply a construction schedule and contract along side step-by-step plans/specs and a proposed plan for the construction task.
During construction, the debtor is likely to make interest-only repayments on a schedule that follows phases of the house’s construction progress. Whenever construction happens to be finished, the construction loan may be rolled over in to a permanent mortgage loan that is fixed-rate. You reach your goal when you are ready to make the vision of your new home a reality, let our experienced mortgage team help.