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 you, use our Contact Form, or call us at (413) 592-9495.