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Construction Loans

You are here

  1. Loans
  2. Construction Loans

 

You have a dream - we want to help make it happen.

 

Building Your Dream Home, Let Us Help

Construction loans are short-term, interim loans used for new home construction. The contractor receives disbursements as work progresses. Contact a Crow Wing Power Credit Union Lender to learn more about construction loans and to discuss current construction loan rates.

Find a builder

Once you settle on getting a home construction loan or using your home equity to build a new home, there are several ways to find a quality home builder in your area:

  • Contact your local chapter of the National Association of Home Builders.
  • Get referrals from friends and family and from real estate agents who specialize in new home construction.

Check credentials before hiring

Hiring a builder is like hiring any other type of professional. Consider the following when interviewing builders for your project.

Does the builder:

  • Have proven experience in building the type of residence you want?
  • Meet state licensure and insurance requirements?
  • Have a solid reputation in the community, including a good rating with the Better Business Bureau and excellent references from past clients, suppliers and local banks?
  • Have a permanent business address?

Is the builder:

  • The recipient of industry awards?
  • Involved in professional associations?

Contact the state or county to verify there is no history of legal proceedings against the builder and that no legal proceedings are pending.

 

 

Construction Loan Rate and Terms

  • 5.75% APR
  • Interest-only payments on the amount you draw while you build
  • Construction time is as short as 6 months to up to 12 months
  • Construction loan and mortgage services all in one place, so you can easily transition to your new mortgage

 

* Actual rate may be higher based on the applicant's credit score.  Annual Percentage Rate (APR) 

Rates and terms are subject to change without notice. Rates are for informational purposes only. Not all borrowers will qualify for all rates.

 

Online Loan Application 

or

Print & Mail Loan Application

 

 

For more information, give us a call

(877) 563-3072

 

 

NMLS# 408088

equal housing lender logo  

Home Equity Loans

Tap into the equity of your home with a Crow Wing Power Credit Union Home Equity Loan.

Home Equity Loans

Personal Loans

If you want to consolidate debts and save money, make a purchase, or just want a vacation, Crow Wing Power Credit Union has a solution for YOU!

Personal Loans

Vehicle Loans

Hit the road, water, or trails with a Crow Wing Power Credit Union Vehicle Loan.

Vehicle Loans
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Crow Wing Power

Peoples Security Company

Disclosures & Privacy Policy

Contact Info

Crow Wing Power Credit Union
P.O. Box 962
Brainerd MN 56401

Phone Numbers
Local - (218) 825-2208
Toll-free - (877) 563-3072
Fax - (218) 822-2678

ncua logo

equal housing lender logo

APY = Annual Percentage Yield. APR = Annual Percentage Rate. Rate based on creditworthiness and term of loan. Rates are subject to change at any time and are not guaranteed.

 

Important Numbers

Routing # 091981688
NMLS # 408088
Lost or Stolen Debit Card - (800) 472-3272

 

©2023 CWP Credit Union. All Rights Reserved.

  • Home
  • Membership
    • About Us
    • Become a Member
    • Contact Us
    • News & Events
    • What's a Credit Union
    • Board of Directors
  • Deposit Accounts
    • Certificates
    • Checking
      • Digital Wallet
    • IRA's
    • Savings
  • Loans
    • ATV & RV Loans
    • Boat & Vehicle Loans
    • Construction Loans
    • Home Equity Loans
    • Mortgage Loans
    • Personal Loans
  • Resources
    • ATM's & Check Reorder
    • Disclosures, Fees & Links
    • Employment Opportunities
    • Hours & Location
    • Power Teller
    • Security Center