Owner-Builder Residential Construction Loans*
MVFCU members are able to apply for a construction loan as an owner-builder. The owner-builder will personally manage or significantly participate in the construction of their new home.
The paperwork we supply helps to keep the owner-builder organized and makes it easier for them to gather the required documentation and knowledge to engage in the construction process.
Members must demonstrate the ability to manage a construction project, or may be required to have a knowledgeable industry professional look over their shoulder. Members are encouraged to have a strong equity position in the project up front and sufficient reserves for allowances for cost and time over-runs.
Rates, terms and fees will vary depending on your individual circumstances of the project. Consultation with a Residential Loan Officer or Construction Loan Officer is recommended.
The application package is in PDF format and can be filled in online and printed, or simply printed and filled in manually (filled in forms online cannot be saved at this time). Once you have completed the packet, call us at (907) 745-9165 or (907) 694-4891, select option 1, x165 during regular business hours to set up an appointment. If you have any questions about the loan application package, call us at the above number, we're here to help you!
*Owner-Builder Residential Construction Loans are currently available in Alaska only.