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Construction Loan

Building tomorrow together

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Download the Construction Loan Guide

Get our construction loan overview including builder questionnaire, loan guide, and origination overview. Download Now

Loan Features

Enjoy the advantages of a Members 1st construction loan.

Single Closing Costs

One set of closing costs where interest rates are locked before construction.

Interest Only Payment

Make interest only payments on the loan balance drawn during construction.

Construction Changes

Plan changes during construction can be accommodated and financed.


Our construction financing program features a 12-month term to build the home, with 5 draws throughout the process. Upon maturity, the balance of the construction loan will need to be refinanced into a 15, 20, or 30 year fixed-rate mortgage.

What is the advantage of a Member 1st Construction Loan?
What does a construction loan cover?
How does a construction loan work for a new home?
Prepare for the builder review
Member First Mortgage Logo

Members 1st Credit Union has partnered with Members First Mortgages (MFM), a Credit Union-owned mortgage lender. Through our partnership, we can offer our members a variety of home loan options to fit their unique financial needs and goals such as:

  • Conventional fixed and adjustable rate programs up to 30 years
  • Government loan programs like FHA, Rural Development and VA (Veterans)
  • Construction financing
  • Jumbo loans and more!

You will work with a licensed and knowledgeable Mortgage Consultant at all stages of the process to help you navigate the mortgage process. Ready to get started? Contact us today at (530) 222-6060 x516.

Home insurance

You know you need it. But do you know how to get a deal?
Get a Quote
Apply now or speak with one of our loan officers at (800) 303-3838.
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