Construction Loans

Planning to build your dream home? PNCU offers construction loans for single-family, owner occupied new builds and makes funding your new construction easy and transparent with our experienced, dedicated professional.

How Do Construction Loans Work?

PNCU construction loans are short-term, interim loans used for single-family, owner occupied new builds. A construction loan can be used to cover the cost of the land, contractor labor, building materials, permits and more. Once a construction loan is granted, the borrower will be put on a draft or draw schedule that follows the project’s construction stages. The contractor will receive disbursements as the project progresses. Typically, the borrower will be expected to make interest-only payments during the construction stage.

 

Benefits of a Construction Loan

  • Flexible programs that are right for you- fixed or adjustable rate loans.
  • Single-family, owner occupied residency.
  • Competitive rates.
  • Easy application and funding process.

Relationships Built to Last

For more information about accounts and services, find a branch nearest youuse our Contact Form, or call us at (413) 592-9495.

To open an account or apply for a loan with PNCU, you must become a member. Membership is attained by opening a deposit account and is open to individuals of all nationalities who live, work or attend school in Hampden, Hampshire, Franklin and Berkshire Counties in the state of Massachusetts and Hartford, Litchfield and Tolland Counties in the state of Connecticut.
Font Resize
Contrast