Space Coast Credit Union can help turn your dream home into reality with a construction loan. This loan gives members the ability to access mortgage funds throughout the construction process, making payments to the builder along the way.
SCCU construction mortgages are actually construction-to-permanent loans, meaning our members go through the application and closing process one time only – one set of documentation, one set of closing costs. When you receive your certificate of occupancy at the end of construction, the loan is modified into a traditional mortgage. You can choose the loan term that best fits your needs, from a variety of traditional fixed-rate options, or an adjustable rate.
• Low construction payments – During construction, monthly payments cover only the interest on the amount of money that has been withdrawn for the build.
• One closing – One construction-to-perm loan means only one application, one closing, and one set of closing costs will cover the entire construction process and permanent mortgage.
• Variety of terms – Choose from 10, 15, 20 or 30 years for your permanent mortgage, or a 5/1 ARM or 5/1 Jumbo ARM.
• Up to 80% financing.1
• Minimum loan amount, $100,000.
• Competitive credit union rates – Call for today’s rates.
Call Express Sales or apply online today.
Brevard: 321-752-2222 option 3
Broward: 954-704-5000 option 3
Miami-Dade: 305-882-5000 option 3
All Other Areas: 800-447-7228 option 3
All SCCU Mortgage Loans Feature