Home Construction Loans
Building a House? We Have Loans for YouFinance the construction of your new home with one closing
We want to help you build your dream home. With a single-close construction loan from Service Credit Union, you’ll have the funds you need to purchase land and construct your home all with one loan. The home construction loan offers an interest-only payment for a certain amount of time during the construction of the home.
Mortgage/Home Equity Rates
Rates effective as of: 4/9/2021 9:54:00 AM (ET).
| PRODUCT | RATE | POINTS | ANNUAL PERCENTAGE RATE |
|---|---|---|---|
| 30 Year Fixed Rate Mortgage | 3.125% | -0.250 | 3.262% |
| 15 Year Fixed Rate Mortgage | 2.375% | 0.250 | 2.655% |
| 30 Year Fixed VA | 2.875% | 0 | 3.010% |
| 30 Year Fixed Mortgage Construction Single Close | 3.375% | -0.250 | 3.470% |
| Home Equity Line of Credit Fixed Term | 2.500% | 0 | 2.500% |
The displayed rates for conventional loans assume a loan amount of $250,000 for a single-family, owner-occupied purchase transaction with a down payment of 40% and a credit score of 740 or higher. VA rates assume a loan amount of $250,000 and no down payment. Conventional jumbo loans assume a loan amount of $548,251 and a 40% down payment. VA jumbo assumes a loan amount of $548,251, with no down payment. Payment examples do not include taxes or insurance premiums. Payment obligation will be higher.
A $500 credit towards closing costs at the time of closing will be applied for members with an ACH direct deposit into a Service Credit Union checking account and automatic payment of the mortgage from the Service Credit Union checking account for the term of the loan.
Learn more by contacting one of our mortgage specialists today, or apply now.