New Home Construction Loans

Ready to build the primary or vacation home of your dreams? Empower Federal Credit Union has construction loans with competitive rates to help you build and finance your new home. Let’s build your dream home together!
Construction loans are available for:
  • Primary residence & vacation/second homes only (1-unit homes only)
  • Owner-occupied
  • Stick built, modular, or double-wide homes
Draw Loans End Loans
  • Finance up to 90% of Loan to Value
  • Finance up to 95% of Loan to Value
  • Up to 5 draws per project
  • 270-day Rate Lock
  • Interest-only payments during the construction phase
  • One Free Rate Float Down

All of our decisions are made locally. Your loan will be underwritten, processed, and serviced right here in Upstate New York, and we use local appraisers. Let an Empower Mortgage Consultant help you find the right kind of loan for your needs. Our simple application process gets things moving quickly so you can start building.

NMLS: 412348

Membership eligibility required.Rates, terms, and conditions subject to change. Loan approval based on creditworthiness. All loans subject to approval. Available in all counties in New York State except Bronx, Kings, Nassau, New York, Queens, Richmond and Suffolk. Members must meet qualification requirements and builder must be approved by Empower FCU. No escrow of property taxes and insurance required, unless the structure is in a flood zone. Other restrictions may apply.



Mortgage Tools

What do you want out of life?

Empower Federal Credit Union welcomes employees of many companies, immediate family/household members of employees and retirees, as well as our outreach to underserved communities to enjoy personal and business banking solutions including auto loans, mortgages*, credit cards and more. Bank online, in any central NY branch, or call us at 315.477.2200.

* Home mortgages available in FL, PA, CT, NY, NC, SC and TN.

Empower Federal Credit Union rated 5-Stars by Bauer in 2023  Best Companies to work for New York 2023 Logo2023 Winner of Best Companies to Work for in New York State