Does Navy Federal Offer Construction Loans?

Описание: Does Navy Federal Offer Construction Loans?

1. No Direct Construction Loans - Navy Federal does not offer a specific, standalone construction loan product, Their primary focus is financing existing homes or newly completed constructions, They are not structured for the risks of ground-up home building.
2. The Two-Loan Strategy - First, you secure a separate construction loan from a different lender, This initial loan is used to finance the entire home building process, That lender will manage the payment draws for your selected home builder.
3. Securing Permanent Financing - After building, refinance the loan into a Navy Federal permanent mortgage, This allows you to access their competitive long-term mortgage interest rates, This final step happens after receiving your home's certificate of occupancy.
4. Using Other NFCU Products - You can begin the entire process by using a Navy Federal land loan, HELOCs or personal loans are not suitable for building a new home, These other products may work well for major renovations on existing property.

Full video:    • Does Navy Federal Offer Construction Loans?  

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This content is for educational purposes only and does not constitute professional advice. Always verify information and consult qualified experts before applying it.