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Construction Loan

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Construction Loan


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DOCUMENT CHECKLIST
Download our list of documents you'll need.


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mortgageoriginating@cinfed.com


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Call us at (513) 333-6337.

What is a Construction Loan?
A construction loan is used to finance the building or major remodel of your home. Once the construction is complete, your loan is then converted into your new mortgage.

What are my loan options?
We currently offer two loan options for borrowers in the construction stage of their homebuying journey. All situations are unique to each homeowner. We will work with you to determine a loan term that is best for your budget and home ownership goals.

  • CONSTRUCTION-PERMANENT LOAN
    A construction-permanent loan is used to cover the construction costs for your new home, and is converted into a permanent mortgage once construction has been completed. With a one-time closing, our construction-permanent loan eliminates the additional closing costs and time you would otherwise spend creating a new mortgage.
    • 5/1 ARM, with a term up to 30 years
    • Interest only for the first 12 months
    • Option to refinance
  • CONSTRUCTION-BRIDGE LOAN
    A construction-bridge loan combines the equity in your existing home and the subject value of your new home is used as collateral to fund the construction of your new home. After your current home sells and construction is completed on your new home, we will refinance your new home on a loan plan that works best for you.
    • 1 year ARM, with a term up to 30 years
    • Interest only for the first 12 months
    • Option to refinance

Learn More


How should I get started?

We will start by gathering the information needed to determine the amount you should borrow. You will need to submit the pre-qualification documents listed, here. Once you are pre-qualified, the process to select a builder can begin if it has not already.



Apply Now
Ready to begin your new journey? Let's get started.


Download Sample Documents
Review the documents you'll need throughout the process.


‌‌View All Rates & Mortgage Options
Take a look at current rates and additional loan options.

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CONTACT CINFED

Cinfed Credit Union
4801 Kennedy Avenue
Cincinnati, OH 45209
(513) 333-3800
Routing #242076656

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