- Available for construction of your primary residence.
- Convenient one-time loan application.
- Interest-only payments during construction based on amount drawn.
- Simple conversion process to permanent mortgage loan.
- Fixed - ARM - Conforming - Jumbo.
- Buying New Build - Finance the takeout.
Frequently Asked Questions
How are payments calculated?
Interest-only payments are based on during the construction period for the amounts drawn. Once the house is completed, the loan balance is amortized over the remaining term.
Can I use my own builder?
Yes, however Kemba will require a brief underwriting of their financial strength.
Who manages the disbursements?
Kemba Credit Union will manage the disbursement process in conjunction with the title agency. Inspections and title updates will be required prior to disbursement of any funds.
Interest rates may be fixed up to 15 years. Longer term fixed rates may fixed 45 days prior to the expected completion date of the construction.
Lot purchases may be completed at the time of the construction permanent loan. Kemba offers Home Equity Lines and Signature Loans as potential sources of funding for pre-construction lot purchases otherwise.
For more information on Home Construction Loans, please call 513.762.1692.