Build your dream home from the ground up
with a Construction or Lot Loan from Unison Credit Union.
Whether you're purchasing land, starting fresh with a custom build, or expanding your existing home, we provide the flexibility and financial support to bring your vision to life.
You’ve spent time imagining the possibilities—now it’s time to make them happen. With competitive rates, flexible financing options, and the personalized service of our local experts, we’re here to help every step of the way. Let’s turn your blueprint into reality.
Construction Loan
You know exactly what you want in your home. And you know where to get the financing for it–Unison. Get the money you need to build your home from the ground up or customize it with a remodel. It's a great option for paying construction costs while your home is being built or expanded.
- Convenient disbursement process
- Pay interest only on money that has already been used
- No principal payments required during construction
- Use our Mortgage Calculator to estimate costs
Land Loan
When you're looking for a piece of land to construct a home, expand your property or use for recreational purposes, a Land Loan can provide the financing you need. You're able to buy the land in advance and pay it off over time to spread out the cost of building your dream home.
- Up to 15-year term
- No prepayment penalty
- Bi-weekly payments
- Use our Mortgage Calculator to estimate costs
Construction Loans
|
Construction Loans5
|
Rates as
Low as*
|
APR as Low as* |
Monthly Payment
|
|---|---|---|---|
| 10 Year Fixed Rate Construction Loan | 6.25% | 6.34% | $1,909 |
| 15 Year Fixed Rate Construction Loan | 6.875% | 6.938% | $1,516 |
| 30 Year Fixed Rate Construction Loan | 7.375% | 7.415% | $1,174 |
| 3 Year ARM (Adjustable Rate Mortgage) Construction Loan2 | 5.50% |
6.694%
|
$965
|
|
5 Year ARM (Adjustable Rate Mortgage)
Construction Loan2
|
5.75% | 6.576% |
$992
|
|
7 Year ARM (Adjustable Rate Mortgage) Construction Loan2
|
6.00% |
6.549%
|
$1,019
|
*As low as rate ranges may change daily and represent only the best possible rates offered for various loan products to borrowers with a credit score of 720 or higher. Individual rates will vary based on your “Tri-merge” (mortgage) credit score(s), the specific loan purpose and product selected, loan amount, and downpayment. Call or see a Mortgage Loan Officer for more details. Published rates do not constitute a loan offer; all loans are subject to approval and the meeting of eligibility requirements. Unison Credit Union, NMLS ID 458614, is an Equal Housing Opportunity lender.
2 Adjustable-Rate Mortgages (ARMs) are variable rate loans with terms of 3/1, 5/1, or 7/1. After the initial 3, 5, or 7 year fixed period ends, that rate can change yearly. For example, the interest rate on a 3/1 ARM is fixed at the advertised rate for only 3 years, after which the rate can change yearly for the remainder of the loan. The changes are subject to the following caps: annual rate cap of +/- 2%, and a lifetime rate adjustment cap +/- 6%. The new interest rate will be determined by adding the rate of the 1-Year Treasury Bill (index) to a margin. The margin = 2.75% for non-Home Equity and Construction ARMs and is 3.50% for Home Equity ARMs. Monthly payment examples are based on a single family, owner occupied, 720+ credit score, and loan amount of $170,000. Monthly payment examples listed do not include taxes or insurance; the actual payment will vary based on your specific situation.
5 Qualifications, terms and conditions apply to Construction loans, in addition to the other requirements noted above. See a Mortgage Loan Officer for additional details. During construction period (max. 6 months), interest is billed monthly on disbursed amount. After, the loan will be amortized over 354 months into an ARM or Fixed product. Monthly payment examples are based on a single family, owner occupied, 720+ credit score, and loan amount of $170,000. Monthly payment examples listed do not include taxes or insurance; the actual payment will vary based on your specific situation.
Empowering Every Chapter of Life!
Where Convenience Meets Confidence.
Unlock Your Home's Potential
Discover the power of your home’s value with our Home Equity Line of Credit (HELOC). Open the door to money-saving opportunities to make home improvements, consolidate debt, purchase a vehicle or pay for college tuition.
Stay on Top of Your Credit
Know your credit score and take control of your financial future with SavvyMoney. This free online tool lets you check your score in real-time and provides personalized tips to help you improve it. Start building better credit today with Unison!
*APR = Annual Percentage Rate. "As low as” APR rate is best available for select terms.
†For homeowners with a new or existing Unison mortgage and checking account. Individual rate, terms and loan approval subject to credit review and membership eligibility. Loan is unsecured and is not a mortgage product. Requires proof of income and owner-occupied property. $30,000, maximum loan.
