**OAC - On Approved Credit. THE RATE YOU RECEIVE DEPENDS ON YOUR INDIVIDUAL CREDIT HISTORY.
Construction Loan
(For single family owner-occupied homes)
If you’re looking to build, look first to Potlatch No.1 Federal Credit Union for a construction loan. Why? Because we’ve been down that road before.
Nearly a quarter of Americans in the market for a new home are building rather than buying, according to real estate analysts. Securing a mortgage can be a fairly simple process, but construction loans are much more detailed.
Construction Loan Specialists Denis Hackwith & Brent Hardin are here to assist you at P1FCU. With more than 55 years of combined experience in lending, Denis and Brent will take the time to coach you through the paperwork, answer any questions you have and help keep the financing process easy.
Rates on P1FCU Construction loans are often better than other financing options available. We’ve introduced this service to help our members build the home of their dreams. And being local means that all decisions, processing, and draw requests are done right here in Nez Perce County. Even at the end of construction, you’ll continue to make your payments at any P1FCU branch.
Builder Construction Loans
(For 1 to 4-family residences and manufactured homes)
For our members who are builders looking for financing, we offer Builder Construction Loans for either spec homes (speculative construction, or homes that have no buyer) or custom pre-sold homes (sold homes with a buyer).
These loans are usually set up with a one year maturity and a variable rate. The loan-to-value depends on whether the home is spec or pre-sold.
What sets our program apart from others is our quick response and local service. All financing decisions, processing and draw requests are done right here in Nez Perce County. We understand the importance of processing draw requests promptly. We’ll help you grow your business as a builder with a solid reputation for paying contractors and suppliers on time.
Lot Loan Program
Our lot loan program is available for members that want to build a new home within the next 3 to 5 years. This allows you to purchase a lot now and build later.
In addition, Potlatch No.1 Federal Credit Union will credit a portion of the lot loan fee toward your new construction with P1FCU when you are ready to build.
This program is a fixed rate, with regular monthly payments, and a balloon payment due in either 3 or 5 years.
If you’ve considered buying a lot now and building in a few years, give Construction Loan Specialists Denis Hackwith or Brent Hardin a call and they will help you learn about our lot loan program. Don’t waste money with financing from two separate places. Make one stop and be prepared when it’s time to build your dream home. |
