WHAT OUR CUSTOMERS SAY
Build your dream home with our
Construction
Program
We offer a one-time close, construction-to-permanent loan program that’s great for members looking to build the home of their dreams! Our one-time close program allows borrowers to simplify and streamline the construction financing process, with just one approval, one closing and one set of closing costs.
EXAMPLES OF OTHER PARTNERS USING THIS TEMPLATE
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“
FULL NAME
Job Title at The Company
The Pricing Plan
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PROFESSIONAL
8
$
/month
Billed Annually
5 active project
10GB space
∞ collaborators
No Credit Card Required
TEAM
22
$
/month
Billed Annually
25 active project
25GB space
∞ collaborators
No Credit Card Required
PLUS
89
$
/month
Billed Annually
25 active project
25GB space
∞ collaborators
No Credit Card Required
All plans include the following features as a standard of our product.
If you have questions and want to talk about your specific situation, fill out the form below and we will reach out to you!
Ready to Get Started?
YOUR CREDIT UNION: NMLS ID# XXXXXX
MEMBER FIRST MORTGAGE, LLC: NMLS ID# 149532
CONSTRUCTION LOANS
Building tomorrow together
*Construction Loans are currently limited to the California counties of Butte, Glenn, Shasta, and Tehama.
**This is not a commitment to lend. All lending products are subject to credit and property approval. Refinancing an existing mortgage loan may cause the total finance charges to be higher over the life of the loan. Additional restrictions may apply. Member First Mortgage, LLC (‘MFM’) (616 44th Street SE, Grand Rapids, MI 49548 | (866) 898.1818 | NMLS ID: 149532) is a Licensed Mortgage Lender/Servicer and a partner of Members 1st Credit Union (4710 Mountain Lakes Blvd., Redding, CA 96003 | (530) 222.6060 X473 | NMLS ID: 419964). For MFM’s state disclosure information, please visit MFM’s website. For NMLS licensing information, please visit www.nmlsconsumeraccess.org | Equal Housing Opportunity.
About our Construction Program
One-Time Close
Low Down Payment*
Low Credit Score Requirements*
Free Online Pre-Approval & Application
Allows Financing for
the Lot, Construction
& Permanent Mortgage
Permanent Rate Lock Upfront
Download the Construction Loan Guide
Get our construction loan overview including builder questionnaire, loan guide, and origination overview.
LOAN FEATURES
Enjoy the advantages of a Members 1st construction loan.
SINGLE CLOSING COSTS
One set of closing costs where interest rates are locked before construction.
FLEXIBLE RATE LOCK
Enjoy the flexibility of locking in your interest rate any time during construction.
INTEREST ONLY PAYMENT
Make interest only payments on the loan balance during construction.
FLEXIBLE DOWN PAYMENTS
Landowners can apply the value of their land toward their down payment to minimize upfront costs.
HOW IT WORKS
Our construction financing program features a 12-month term to build the home, with 5 draws throughout the process. Upon maturity, the balance of the construction loan will need to be refinanced into a 15, 20, or 30 year fixed-rate mortgage.
What is the advantage of a Member 1st Construction Loan?
What does a construction loan cover?
How does a construction loan work for a new home?
Prepare for the builder review
Can I purchase a manufactured home?
Do I pay interest as soon as I take the loan out?
Is it flexible if I have to take more money out for unexpected expensed?
Members 1st Credit Union has partnered with Member First Mortgage (MFM), a Credit Union-owned mortgage lender. Through our partnership, we can offer our members a variety of home loan options to fit their unique financial needs and goals such as:
- Conventional fixed and adjustable rate programs up to 30 years
- Government loan programs like FHA, Rural Development and VA (Veterans)
- Construction financing
- Jumbo loans and more!
You will work with a licensed and knowledgeable Mortgage Consultant at all stages of the process to help you navigate the mortgage process.
Ready to get started? Contact us today at (530) 222-6060 x516.
HOME INSURANCE
You know you need it. But do you know how to get a deal?
READY TO GET STARTED?
If you’re ready to apply or have questions and want to talk about your specific situation, fill out the form below and we will reach out to you or call us at (530) 222-6060!
