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Do you have a piece of land in mind and want a house that is built to fit your needs? If so, choosing to build your own home with an HFS FCU Construction Loan may be the solution for you. HFS FCU offers members two great construction loan options depending on your individual needs. Choose to borrow money only for the construction phase or apply for a Construction to Permanent Loan and enjoy a construction loan that automatically rolls into a 15 or 30 year mortgage of your choosing. Compare the many features and advantages of both options below.

Construction to Permanent Loan

With a Construction to Permanent Loan from HFS FCU, you have the ability to lock in your 15 or 30 year loan rate before the construction on your home begins. In a rising interest rate market this gives you the confidence of knowing what your payments will be before the project starts. Our Construction to Permanent Loan comes with features such as:

Fixed interest rates
• Lock in interest rates at start of construction
• Borrow up to 80% of the appraised value
• Up to 12 months of Interest only payments during construction phase
• Automatically converts to 15 or 30 year mortgage of your choosing
• One loan closing & associated fees at start of construction phase.

For more information on a Construction to Permanent loan from HFS FCU please contact the credit union at (808) 930-1400.


Interim Construction Loan

With an Interim Construction Loan from HFS FCU, you borrow only what you need and have the flexibility to decide what term and type of mortgage product you wish to roll your loan into when your home is complete. If rates continue to drop during construction, this option may save you money in the long run by allowing you to lock in a lower interest rate. Our Interim Construction Loan comes with features such as:

Fixed interest rates
• Pay interest only on the total amount outstanding
• Terms up to 12 months
• Borrow up to 80% of the appraised value
• Roll loan into an HFS fixed rate mortgage upon completion of home and receive a credit of 1% of the loan amount applied to your closing costs.

For more information on an Interim Construction loan from HFS FCU please contact the credit union at (808) 930-1400.


SAFE Act Information

On July 28, 2010 the Nation Credit Union Association (NCUA) and other Federal Agencies published a final rule to implement the federal registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The registration requirements apply to all employees acting in the capacity of a Mortgage Loan Originator (MLO). The S.A.F.E. Act requires all MLOs to register with the Nationwide Mortgage Licensing System and Registry (NMLS). Upon completing this registration, each MLO is provided with a Unique Identifier number from the NMLS. An MLO must provide this Unique Identifier number to each mortgage loan applicant upon request and prior to the employee acting as an MLO.

Click here for a listing of our Mortgage Loan Originators.
Please visit the NMLS registry website for more information.

© 2017 HFS Federal Credit Union
National Credit Union AdministrationEqual Housing Lender

Federally insured by NCUA.
We do business in accordance with the Federal Fair Housing Law.