With a LMCU new construction loan and Guaranteed Low Mortgage Rates**, you can indeed have it all. Construction loans typically come in two parts. The first is an interest-only loan that funds construction until completion. The second part is the permanent loan that you’ll carry forward over the long term. Many banks require that closing costs be paid at both ends. Not LMCU.
Ours is a single-close loan that saves you both money and processing time. And builders love working with us. Our draw system is quick and efficient, and makes sure contractors get paid promptly. So if you’re having trouble finding your dream home, build it instead with help from a
**Our Low Rate Guarantee: Lake Michigan Credit Union will match legitimate competitor offers or credit the borrower $300 off closing costs. Our low rate guarantee cannot be combined with any other offers. Lake Michigan Credit Union is insured by the NCUA.