Construction Loans
Premier Credit Union’s construction loan program is designed to make the home building process easy and hassle-free. We coordinate each construction draw so that payments are made quickly to the contractor, subcontractors and suppliers.
Construction Financing
- 3 to12 month construction loans with monthly interest only payments based on amount disbursed to date
- Competitive interest rate and closing costs
- Will lend up to 90% of cost or value, whichever is less
- Premier Credit Union will work with your contractor to facilitate the draw process.
Permanent Financing (End Loan)
- Your choice of mortgage programs
- When construction is complete, end loan documents are signed
and regular monthly payments begin - The end loan is approved at the same time as the construction
loan - No duplication of closing costs on the end loan
Gary Ellwood
Mortgage Officer
515-724-3527 GaryE@premiercu.org
