Construction Loan
Build your vision from the ground up. Our Construction Loan provides flexible financing for land acquisition and construction projects up to $500,000.
Apply Now🏗️ Everest Federal Credit Union Construction Loan
Whether you're looking to acquire land or build from the ground up, our Construction Loan provides the financing you need. Borrow up to $500,000 per parcel with flexible terms designed for both land acquisition and construction projects.
Key Product Features
Land Acquisition
Secure financing to purchase land for your next construction project.
Construction Financing
Fund new construction with flexible draw schedules throughout the build process.
Up to $500,000
Borrow up to $500,000 per parcel per applicant to cover your project needs.
Flexible Terms
Choose a loan term that fits your project timeline and financial goals.
Eligibility Requirements
- Must be an EFCU member
- The primary borrower must be a permanent resident or citizen of the USA
- Valid government-issued photo ID
- Acceptable business and personal DTI ratios
- Verifiable business or personal income
- Plans and specifications for your construction project (if applicable)
Required Documentation
Please submit the following documents with your completed application to avoid delays in processing.
Personal Documentation
- Valid government-issued photo ID (DL, Passport, or State ID)
- Social Security Number (if not on ID)
- Proof of residential address (e.g., utility bills)
Business Documentation
- Copy of Business License & Certificate of Incorporation
- Federal Tax ID Number (EIN) confirmation
- Most recent 2 years of Business and Personal Tax Returns with all Schedules
- Year-to-Date Business Balance Sheet and Income Statement
- Last 3 months of Business and Personal Bank Statements
- Personal Financial Statement for each owner/guarantor with >20% ownership
- Lease agreements or current rent roll on the subject property (if applicable)
- Set of plans and specifications for your construction project (if applicable)
Important Note: Please complete all information to avoid delays in processing your application. Each undersigned party authorizes Everest Federal Credit Union to obtain consumer credit reports and verify all submitted information for the purpose of credit review.
Explore Other Loan Options
Business Builder Loan
Unlock the potential of your business with our Business Builder Loan.
Learn more