New Construction Loans

We’ll help you build it

RBFCU offers one-time close construction loans with flexible terms, designed to help you finance the building of your new home.

These loans offer a short-term, fixed-rate construction period which converts to a permanent fixed-rate mortgage upon completion of construction. During the application process, RBFCU will require the borrower to provide a construction contract and schedule
along with detailed plans/specs and a proposed budget for the construction project.

During construction, the borrower will make interest-only payments on a schedule that follows stages of the home’s construction progress. When construction has been completed, the construction loan can be rolled over into a permanent fixed-rate
mortgage loan. When you are ready to make the vision of your new home a reality, let our experienced Mortgage Lending Team help you reach your goal.