Planning to build your ideal home? Work with your builder to fine-tune the plans, pick the colors, and trims - we'll help with the financing. Before you know it, you'll be setting out the welcome mat for family, friends, and new neighbors.
MSUFCU Construction Loan allows up to five draws and interest only payments during the draw period (up to nine months from the loan origination date). Choose from a fixed-term or ARM Loan with 10-, 15-, 20- and 30-year terms. 20% down payment is required, or the owned property must be equal to 20% of the loan.
• Loan amounts up to $1,500,000
• Draw checks made payable to the borrower and builder
Information provided by MSU Federal Credit Union.