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.