Construction Test

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Building a custom home is both exciting and overwhelming. We are here to help make this process as simple as possible.

What is a Construction Loan?

A construction loan is a type of short term loan that is used to finance the building or major remodel of your home.

 Our Loan Options


A construction-permanent loan is designed to make the loan process as smooth as possible, providing you with a fluid loan transition before and after the construction process. The loan is first used to fund the expenses inccurred during the building process and is then converted into your permanent mortgage once the construction on your home is complete. With a one-time closing, our construction-permanent loan eliminates the additional closing costs and time you would otherwise spend creating a new mortgage.

How it works:
During the first 12 months, your builder will make draws as work is completed. Your down payment funds will be used first in the draw process.
You will be required to make regular monthly payments of principle and interest following the completion of your construction period (12 Months) or after the final draw to your builder has been made and the property is 100% complete.

  • 5/1 ARM, with a term up to 30 years
  • Interest only for the first 12 months
  • Option to refinance



A construction-bridge loan is a unique solution that allows you to use the equity in your current home as a down payment for your new home. This loan type is a best suited for those wanting to stay in their current home while construction is being completed on their new home. It is also a great fit for those who are finding it difficult to allign their current budget with the project timeline, or if down payment requirements exceed their available liquid assets.

How it works:
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.

Draws will be made over the 12 month period, increasing your interest payment over time. We pay off any exisitng leins on your current home at closing.

  • 1 year ARM, with a term up to 30 years
  • Interest only for the first 12 months
  • Option to refinance




 We're here to help you get started.




Call us at (513) 333-3995



The Process

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Before applying for a HELOC, we suggest you meet with us to ensure this is the best option for you and answer any questions you may have. Once we have determined this to be a good fit, you should begin your application. During this time, you will need to send us a selection of documents that will be used to verify your information and determine the amount you should borrow. Download our document check list, here. 
Once you've been approved, we will order an appraisal on your current property to assess it's value. 




We have a simple draw process that is designed to meet the needs of your builder, and you. In general, a draw is simply the process of withdrawing funds from your loan and using them as payment for the various stages of construction. During the first 12 months, your builder will make draws as work is completed. Your down payment funds will be used first in the draw process.These funds will not be released until we have completed an inspection to verifiy that the work has been completed. The inspector is typically the appraiser that has been assigned to your project. Cinfed will maintain the percentage drawn from the construction loan and match the percentage of work that is complete. Keeping this in balance protects all parties involved.

Draw Requests

The builder will request draws as work is completed. The only time a member will need to request a draw, is if there is work outside of the builder’s contract/scope of work. Work outside of the builder’s contract/scope is mentioned in “How it Works” (above) as part of your plans, and will need to be addressed before your loan closing. An affidavit will be signed by the builder and homeowner (provided by Cinfed). Each draw will have a Fee of up to $100. Any draw fees not used can be reimbursed after the final draw is made. A title update will be completed for each draw to verify a clear title is being maintained. Builders can find additional information and required documents for draw requests, here. Members that will have work that is completed by someone other than the builder can find more information here(link).



We do not offer to escrow for taxes and insurance on construction loans. The reason for this is we will not have a fully assessed tax bill yet, and your insurance policy is likely to change after your home is completed. We are happy to set up an escrow account at a later date when we have a fully assessed tax bill. In the mean time, taxes and insurance will need to be paid by you when they are due.


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


Liz and the gang have surpassed all my notions about what banking should be, they bring unparalleled customer service to the table. So much that whenever I walk in, I am greeted like good neighbors... 
— D English
I have been a member since 1968. That is the year I started with IRS. I think we have used every service Cinfed has to offer. 2 home mortgages, personal loan ,RCA, car loan. They have always been... 
— Jan, member since 1968
I love Cinfed! They treat us like family!!
— James, member since 1990
Dedicated member since 1972. Cinfed has been there every time I have needed them. Being without Cinfed now, well it would be like losing a member of the family.
— Norma, member since 1972
The one-stop banking capability for home mortgages, automobile loans, savings accounts and credit cards...all with very competitive rates...makes being a member of Cinfed a very smart, invaluable... 
— Carl, member since 1978
When purchasing a car for my daughter, Cinfed came through for me once again. They worked out every detail of the purchase loan right from the dealership lot, including setting up an online account... 
— Crissy, member since 1995
I have been a member of Cinfed almost as long as I've worked at IRS which is since 1975. I'll not bank anywhere else. The service I get from people like Jewel and Jennifer "J" at Gateway... 
— Linda, member since 1978
I joined Cinfed over 18 years ago. I love the chance that they give you to get things right. My family loves this too! What I would love to see this bank do is to notify customers via email... 
— Delores, member since 1986
When my previous bank refused to cash a corporate paycheck with one of the largest financial institutions, I went to Cinfed off of a members recommendation and without a question they cashed my... 
— Phil, member since 2008
I have had Cinfed for 14 years. They are the best bank I have ever had. They are always there to help me out of any jam I get into, with a friendly smile!!! Thank you Cinfed!!!
— Eric, member since 2001
Cinfed is pretty much the best, most helpful bank I've ever used. I previously used another local bank, but was encouraged to try Cinfed by my girlfriend. I've come to expect very little of banks in... 
— Logan, member since 2010
My husband and I have been members of Cinfed for over 25 years. When he retired, we had limited involvement with Cinfed since it was very close to our workplace, but not our home. Recently we... 
— Cheryl, member since 1981
I have been a member of Cinfed Credit Union since 1986 when I started working for IRS. I recently spent a week in the hospital and four weeks in a skilled nursing facility going through rehab. The... 
— Suzanne, member since 1986
Cinfed is special for me. I moved to several states and Cinfed is the only account I kept with me wherever I go. Through the shared branching, I get all the service I need. Whenever I call, I am... 
— Tseagye, member since 2010
Cinfed rocks! I hope you guys understand that what you are offering are not just loans and accounts but things that mean much more than that, things that keep hope alive, that help people like me... 
— Pankaj, member since 2014
I joined Cinfed after my first season working for IRS in the early 1980's. Now over thirty years later, I am still impressed with them. Every customer service representation that I have been in... 
— Ros
I've been banking with Cinfed for almost one year now and it has been a wonderful experience. They get back to you very promptly and can help you for all of your banking needs, quite efficiently. I... 
— Brandon, member since 2014
I have been a member for over 25 years. I think good service should be recognized. Julie at the Roselawn branch always gives great service with a smile. She is also a very dedicated employee. ... 
— Rita, member since 1985
I have had most of my family to join. I will never change banks, the service is great.
— Joen, member since 1988
Love them as a bank and the customer service has always been outstanding...Great job Cinfed.
— Posey, member since 1984
We've only been members for a little over a month and already feel the difference. I don't want to name names, but let's just say Cinfed is WAY better than our previous institution that rhymes with... 
— Jeff, Dawn, & Jordan, members since 2013
I been a member since 1985 and can not imagine banking anywhere else. This credit union as taken care of my every need. 24/7 services is excellent.
— Edward, member since 1985
Just closed on a Home Equity line of credit loan, and the process couldn't have been any easier. With this I was able to pay off 2 high interest credit cards and deposited the rest into a checking... 
— Thomas
Recently I tried to locate the Oakley office using google maps. The google directions did not get me close to Cinfed. I called the office and Liz remained on the phone until I reached the... 
— Debbie G
As a long time member, I have always received great service from all CinFed employees. I just wanted to say a special thank you to Dee Dee Day and Dawn Strickland. I had to make some changes to... 
— John-Member since 1990
Earlier this year my much younger sister passed away and with that many obligations were to be met by my husband and myself ..My sister was survived by a daughter and son. We have since then taken on... 
— Vonda
How lucky I am to have Liz Frey managing the office I use! I live in Florida but maintain Cinfed as my main banking office. Everytime I need special help a simple email or call to Liz and it is... 
— Debbie G
Emily Snyder took the best care of my two auto loans. She was professional, courteous and very knowledgeable of the available services for me. She went out of her way to make sure I felt like I was... 
— Sarah Amyotte

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