New construction
Finance the construction of a new building or facility.
Build | Expand | Improve
Construction Financing
Financing to build, expand, or improve the facilities of your church, school, or organization.
Apply →Financing for organizations
Types of projects
An advisor will help you define the right financing for your project.
Expansion
Add space to serve a growing community.
Remodeling and upgrades
Update and improve existing facilities.
Phased financing
In construction projects, funds are usually disbursed in phases as work progresses.
The application process
These are the general steps. An advisor will guide you through each one.
-
01
Submit your application
Complete the application online or schedule a conversation with an advisor.
-
02
Guidance and prequalification
An advisor will review your project and guide you through the available options.
-
03
Document review
You'll gather and submit the supporting documentation requested.
-
04
Proposal
We'll present a financing proposal with terms for your organization.
-
05
Evaluation and processing
We'll verify the information and evaluate the application.
-
06
Documentation and disbursement
You'll sign the loan documentation and the funds will be disbursed.
Key financing terms
- Amortization
- The payment plan by which the loan balance is reduced over time.
- Balloon payment
- A larger final payment due at the end of the term, when the loan isn't fully amortized.
- Rate review
- An adjustment to the interest rate at an agreed-upon point during the life of the loan.
- Fixed rate
- An interest rate that doesn't change during the agreed period.
- Down payment
- The portion of the project or property cost your organization contributes.
Not all applications will be approved. Approval is subject to credit evaluation, income, property appraisal, and other requirements. Rates, terms, and conditions may change without notice.
Start your application
Complete the form below and an advisor will get in touch with you.
Frequently asked questions about Construction Financing
What projects can I finance?
New construction, expansions, and remodels of your organization's facilities.
How are the funds disbursed?
In construction projects, funds are usually disbursed in phases as work progresses. An advisor will explain the process.
What information do I need?
Plans or a project description, budget, contractor information, and financial statements are typically requested. An advisor will confirm the list.
What are the rates and terms?
They depend on your project and the evaluation of your application. An advisor will present the available options.
Do I need to be a member of Christian Credit Union to apply for financing?
An advisor will confirm your organization's membership requirements once we receive your application.