CONSTRUCTION LOAN
Build your dream home from the ground up!
When looking for a new home, finding the perfect house that checks all of your must-have boxes can feel impossible. With a construction loan from Community West, you don't have to sacrifice your dream kitchen, closet, or man cave!
What is a Construction Loan?
A construction loan allows you to borrow money to build a house. Depending on your budget, the loan can cover most or all building costs - including building materials, contractor labor, land costs, and necessary permits.
At the time of completion, the end loan must be refinanced into a permanent mortgage with terms of up to 30 years.
Construction Loan Benefits:
- Pay interest only during the construction period
- No escrow account needed during construction
- Local underwriting and draw requests
- Fixed-rates with flexible terms
- Utilize previously purchased land for equity or a down payment
Helpful Links
Mortgage Department:
Phone: 616-261-5657 (option 2)
NMLS# 691882
Mortgage@CommunityWestCU.org