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CFCU Credit Union


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Routing #: 221381540

Land and Construction Loans

Let us help you buy the perfect location and build the house of your dreams!

We offer flexible terms and competitive rates!

Land Loans

Whether you are building in 10 years or next month, once you have found the perfect 'forever' spot, you can't help but dream. We understand! If you don't want that opportunity to slip past, use our popular Land Loan to claim that spot.


  • Easy way to purchase the land if construction is not going to occur immediately.
  • Loan to value (LTV) loan amount up to 75% on unimproved land and 80% on improved!
  • Land loans can be a part of a Construction Loan if construction is imminent.

Loan Types & Terms

  • Fixed Rate 10-year term.
  • 3/30 Balloon.
    • This option provides a lower payment than the 10-year fixed rate term.
    • This is a good option of you are going to complete construction within 3 years.
    • At the end of 3 years, the remaining balance on the loan is due.


Construction Loans

They say building a home is one of the more stressful homeowner experiences you can undertake. 'They' must have used someone else to finance it.


  • Draws advanced to the builder, as progress of construction is completed.
  • 5% minimum down payment (land can be used as equity).
  • Interest only payments during construction.
  • Stick build or modular construction.
  • 9 month construction period.
  • Builder approval required.


Contact one of our Mortgage Sales Associates for Current Rates


The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau's Web site (


CFCU is registered with the New York State Superintendent of Financial Services. You may file complaints and obtain further information about CFCU by contacting the New York State Department of Financial Services Consumer Assistance Unit at 1-800-342-3736 or at