Construction Loans

New Construction Loans. For buyers looking to build the home of their dreams.

Visions Construction Loan Program Features:

• Only 5% Down On Fixed Rate Construction Loans
• Only 10% Down on Adjustable Rate Construction Loans
• Flexible Draw Schedule
• One mortgage application and closing
• Interest-only construction loan payments that help make building with Visions affordable
• Land loans for those who have found the right place, but not the right home
• Fixed or adjustable construction loans available
• Same day approvals when you apply online

Construction Checklist

Effective February 1, 1994, both borrowers and co-borrowers must be members of the Credit Union. To apply for a Credit Union Construction Mortgage, you must make an appointment for a formal application interview with our Mortgage Officer.

When you come in for your interview, please be sure to bring the following items:

• Your current paystub
• One current bank statement
• Complete set of proposed blueprints
• Completed "Descriptions of Materials" Form
• Signed Building Agreement
• Copy of Building Permit
• Copy of Deed for proposed Site
• Draw schedule - provided by your contractor
• Any additional items required when appointment was made

If you are Self Employed:

• Last two years signed tax returns
• Year-to-date profit & loss statement

If you have Rental Income:

• Last two years signed tax returns