A new construction loan is a loan for the construction of a residential home providing a line of credit to pay the contractors and suppliers during the construction phase.

A construction loan offers you peace of mind with a 3 ARM (Adjustable Rate Mortgage) with the competitive rate locked in for the construction and term to follow.

The low closing costs save you money because it relieves the burden of paying large payments at the closing of the loan. 

You can take advantage of payroll deduction or automatic transfers with DuTrac Community, you can actually save money by reducing your principal loan balance on a regular basis over the life of the loan.  Payroll deduction and automatic transfers provide you the convenience of having your payment made right from your paycheck or an account at the credit union and saves you the time and hassle required for making out the check for the loan payment and making sure it gets in the mail on time.