Construction loans to build a new house.
You’ve been designing your dream home in your head for years. With a Day Air construction loan you can bring the home of your dreams to life! Day Air construction loans provide the financing you need to build your home from the ground up in the Miami Valley.
Understanding Construction Loans at Day Air Credit Union
- Find your dream lot and a builder from Day Air’s approved list. In order to get a Construction Loan from Day Air Credit Union, you must be working with a builder from Day Air’s approved list. Don’t see your builder? Have them contact Day Air to get approved.
- Apply for your Day Air Construction Loan. Our mortgage professionals are here to walk you through the process of getting a construction loan in Dayton, Vandalia, Kettering, Beavercreek, Springboro, Bellbrook and surrounding communities.
- Home building loans typically have interest-only payments while your home is under construction. These payments then convert to a permanent loan with a fixed or adjustable rate depending on your needs.
- Day Air offers a one-time close – meaning your rate will be locked before construction and you’ll only have to sign one set of documents which covers the construction period and the permanent loan.
- The minimum down payment for a construction loan at Day Air is 5%.
- The maximum construction loan amount is $650,000.