Construction and Lot Loans - America First Credit Union
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CONSTRUCTION AND LOT LOANS


We offer:

Incredible terms-

  • 10-year fully amortizing
  • 20-year amortization with a five-year balloon
  • 30-year amortization with a five-year balloon

Financing options:

  • Up to 80% for purchase on fully improved residential lot where future owner-occupied home is to be considered.
  • Up to 65% for purchase or refinance on fully improved residential lot held for investment
  • Up to 50% for cashout refinance on fully improved residential lot where future owner-occupied home is to be constructed. Maximum cash amount is $25,000
  • Lot must be free of structures

And we'll make it happen with:

Low fees-

  • Origination is only 1.00% and you could have all of it refunded back - ask us how
  • Credit report, document preparation, flood certification: see loan officer for details
  • Appraisal: $375 (varies based on area)
  • Title policy costs: based on loan amount
  • Title company closing cost: per title company
  • Recording Fees: vary by county

Easy documentation:

  • Purchase contract (if applicable)
  • Most recent pay stubs and W2's for previous two years
  • Tax returns if self-employed
  • One month's financial institution account statements

Available in Utah: Box Elder, Cache, Davis, Juab, Morgan, Salt Lake, Summit, Utah, Weber, Tooele, Wasatch & Washington Counties.

Available in Nevada: Clark County and the cities of Caliente, Pioche, Panaca & Alamo.

*Certain criteria apply. Please ask us for details. Member-direct lending only.

We offer:

  • Low, competitive rates
  • Once construction is complete, you're qualified for a 0% origination fee on your long-term loan with America First
  • Up to 80% of acquisition cost
  • Flexibility on down payment requirements - see loan officer for details

And we'll make it happen with the following terms:

Nine-month term, with extensions available

Low fees-

  • Origination fee is only 1.00%
  • Underwriting fee: $500 - No additional underwriting, processing or document preparation fees on long-term loans
  • Appraisal: $450 or current cost
  • Inspection fee: $450
  • Course of construction insurance: varies
  • Title policy costs: based on loan amount
  • Recording: according to area where building takes place
  • Settlement services: per title company

Easy documentation:

  • Long-term approval (loan officer will obtain)
  • Construction cost breakdown
  • Contract with builder
  • Copy of builder's license
  • Evidence of lot purchase, if applicable
  • Plans and specifications for the home to be constructed

Available in Utah: Box Elder, Cache, Davis, Juab, Morgan, Salt Lake, Summit, Utah, Weber, Tooele, Wasatch & Washington Counties.

Available in Nevada: Clark County and the cities of Caliente, Pioche, Panaca & Alamo.

*Certain criteria apply. Please ask us for details. Member-direct lending only.

We offer:

  • Low, competitive rates
  • Once construction is complete, you're qualified for a 0% origination fee on your long-term loan with America First
  • Up to 80% of acquisition cost
  • Flexibility on down payment requirements - see loan officer for details

And we'll make it happen with the following terms:

Nine months, with extensions available

Low fees-

  • Origination fee is only 1.50%
  • Underwriting fee: $500 - No additional underwriting, processing, or document preparation fees on long-term loans
  • Appraisal: $450 or current cost
  • Inspection fee: $450
  • Course of construction insurance: varies
  • Title policy costs: based on loan amount
  • Recording: according to county where building takes place
  • Settlement services: per title company

Easy documentation:

  • Self-build qualification
  • Construction cost breakdown
  • Long-term loan from America First
  • Evidence of lot purchase, if applicable
  • Plans and specifications for the home to be constructed

Available in Utah: Box Elder, Cache, Davis, Morgan, Salt Lake, Summit, Utah, Weber, Tooele, Wasatch & Washington Counties.

Available in Nevada: Clark County.

*Certain criteria apply. Please ask us for details. Member-direct lending only.