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New Construction Loans New York

What’s better than building a new home? Financing it for less.

Embarking on the journey of building your dream home in New York begins with…

finding the proper support, and that’s where Northern Credit Union’s community-focused approach shines. A new construction loan in NY is a specialized financing option designed for those looking to buy a newly built home in a development or create a custom home from the ground up. As your local construction loan lenders in New York, we’re here to guide you through every step, ensuring your project starts on solid ground. With Northern Credit Union, you’re not just building a house; you’re crafting a future in the community we call home.

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With Northern as your lender, you can spend time making sure you end up with the home of your dreams. We’ll make sure your construction loan saves you money.

  • New Construction Loans in NY
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    Rates are custom built for you. Contact us for details.

    If you’re interested in buying a newly built home in a development or building a custom home from the ground up, talk to Northern. We’ll help you finance it for less.

     

    Benefits of a New Construction Loan in NY

    • Up to 80% Financing Available: Secure up to 80% financing for your new home construction. This offers significant financial support to bring your dream home to life without the burden of a substantial upfront investment.
    • One Loan, Many Possibilities: Finance your land purchase and construction costs together in one convenient loan, simplifying your financial planning and streamlining the funding process for your project.
    • Streamlined Approval Process: Experience a hassle-free approval process designed to get your construction plans off the ground quickly, ensuring your project moves forward without unnecessary delays.
    • Flexible Build Terms: Our construction loans come with flexible terms tailored to fit your payment preferences and construction timeline, providing the financial adaptability your project needs from start to finish.

     

    Application Checklist For New Construction Loans in NY

    To apply for a new home construction loan in New York, you’ll need a comprehensive construction or purchase contract signed by you and your builder or developer. This contract is crucial as it outlines vital details of your project, including:

    • Total Contract Amount: This should cover the complete costs of your project, from construction to land purchase (if you’re buying land as part of the construction).
    • Construction Timeline: Detailed start and completion dates to provide a clear project schedule.

     

    Getting Started with Your New Construction Loan

    Ready to explore a new construction mortgage in NY with Northern Credit Union? Follow these simple steps:

    1. 1.) Learn About Your Options: To learn more about new construction loans in New York, schedule a consultation with our lending professionals through Video Banking
      • For mobile: Download the Northern Credit Union Video Banking Mobile App.
      • For desktop: Use the Web Version via Safari, Chrome, or Firefox.
    2. 2.) Become a Member: Enjoy exclusive benefits by joining Northern Credit Union. Starting is easy—just click to join now!
    3. 3.) Apply for Your Loan Online: Convenient, accessible anytime, and a quick way to get started on your home construction journey.
    4. 4.) Speak to a Loan Advisor: Call us at 315-777-8910 for personalized service and answers to your question
    5. 5.) Text Us for Information: Text “HOME” to 315-782-0155, and we’ll help guide you through the application process.

    Credit union membership is required.

Disclosure:
*$100 will be deposited into a Northern Credit Union deposit account at the time of mortgage loan funding.

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