Construction Loans - Merrimack Valley Credit Union

Routing #2113 8492 6
800-356-0067
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Apply for a Loan Open an Account

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Routing #2113 8492 6
800-356-0067
Locations & Hours

Apply for a Loan Open an Account

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Home / Borrow / Construction Loans

We can take you from Close to Build to Complete

Who is a construction loan best for

You should get a construction loan if you are looking to:

Build a one unit home for you and your family
Purchase land and build a one unit home for you and your family

Construction loan features

This loan requires just 1 closing!

During construction: Pay monthly interest-only payments based on the amount of the loan that has been dispersed to date.
After construction and the loan is fully dispersed: It will automatically convert to a permanent loan and payment will include both principle and interest

The construction program allows for Fixed and Adjustable Rate Options.

A partner through the process

After you have closed on the loan, you will be assigned a Construction Loan Specialist. This specialist will be your partner though the completion of your project. They will assist you with the loan disbursement process and answer your questions.

Ready to get started?

Complete this form to start on the journey towards building your dream home!

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Meet our Mortgage Team

Linda Brackett

Linda Brackett
800-356-0067 ext. 32424
NMLS# 767583

Linda Brackett QR Code

Delia Gautreaux

Delia Gautreaux
800-356-0067 ext. 22642
NMLS# 1608322

Delia Gautreaux QR Code

John Privitera

John Privitera
800-356-0067 ext. 22614
NMLS# 113096

John Privitera QR Code

Rebecca Scaglione

Rebecca Scaglione
800-356-0067 ext. 22643
NMLS# 406357

Rebecca Scaglione QR Code

Rebecca Scaglione

Paul Carriere
800-356-0067 ext. 32409
NMLS# 31940

Paul Carriere QR Code

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Disclosures

Home Equity Loan:
For a 1st Lien: Payments do not include taxes and insurance, actual payment obligation will be higher. The APR is an estimate and could be higher, based on the date of closing and the number of days interest collected at consummation. APR may change without notice. Minimum loan amount is $10,000. There WILL be an appraisal fee for applications $250,000 and over which can range from $485 - $780.

Home Equity Line of Credit:
Minimum Home Equity amount is $10,000. Maximum interest rate for Home Equity Lines of Credit is 18.00%. The maximum annual percentage rate that can apply is 18%. There is an appraisal fee for loan applications over $250,000 which can range from $485 - $780. The interest rate is based on the Wall Street Journal Prime Rate and may vary monthly. An early termination fee may apply if closed within the first 12 months. Must meet eligibility guidelines. APR may change without notice.

Calculator:

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.