Building a home from the ground up is an investment in your family's future. And building a relationship with a local credit union helps your family stand on strong financial footing. Break ground with a Construction Loan from Pelican State CU.
Let this starter loan serve as the cornerstone of your payment plan. So, you don't have to work from scraps just to get off the ground.
- Great low rates
- Minimum loan amount as low as $50,000
- Phase-based loan structure designed to save you money
- Short-term loan
- Can roll into full mortgage at end of construction
- One-time closing saves money on closing costs
- Local decision-making
- Personal service
- Talk to a community-driven credit union
All Pelican State Credit Union mortgages comply with federal and state regulations. If a member has a building contract with a certified builder and 15% equity at the end of construction, the maximum Loan to Value (LTV) is 85%. If a member is subcontracting the construction on the primary residence and has 20% equity at the end of construction, the maximum LTV is 80%.