- For primary residences, vacation homes or second homes (one-unit homes only)
- Stick-built, modular and double-wides
- Local Financing - underwritten, processed, and serviced right here in Upstate New York
- Competitive Rates and Flexible Terms
- Finance up to 90% of home's value
- 12-month maximum construction period
- Funds distributed as each building phase takes place (maximum five draws for project)
- Interest-only payments during the construction period
- Automatically converts to a fully amortizing mortgage at the end of the 12th month.
- Finance up to 95% of Loan to Value
- 270-day Rate Lock
- One Free Rate Float Down
*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.
All loans subject to approval. Rates, terms, and conditions subject to change.