If you plan to build your dream home in Michigan, a construction loan or custom build loan is the way to go. Whether you’re building a primary or secondary home, Consumers Credit Union can provide new construction loans up to 95% of the value.

Plus, you’ll benefit from:

• One-time closing, which means less paperwork to sign and fewer closing fees.
• Locking in your rate at the time of application for up to 12 months ­– even if interest rates rise while you’re building.
• A low, fixed construction administration fee.
• Quick builder approval process.

Upon completion of construction, your construction loan rolls over into a standard home loan. It’s hassle-free because there’s no additional paperwork.

Buildable Lot Loan

To be eligible for our vacant lot loans, you must have a credit score of at least 700, and the lot must be less than 40 acres. If the loan amount exceeds $125,000, a larger down payment may be required.

Recreational Land Loan

If you’re looking to purchase more than 40 acres for recreational use with no intent to build, this land loan option may be for you. It requires 25%* down on an aggressively low fixed rate over 30 years.