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Somerset Federal Credit Union

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Construction Mortgage

Do you have an idea in mind of what your dream home should look like? Well, you can make that dream possible by building it from the ground up with the help of a Construction Mortgage!

Features:

  • One closing means you save money on closing costs and your rate is locked
  • 12 months to build your home with interest only payments
  • Must be owner occupied
  • You are not required to use a general contractor

Upon approval you will need to open an account with the Credit Union and maintain a $5 minimum balance in the account for the life of the loan

Rates/Terms are subject to change without notice.