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Construction Loan Guide


Your Dream Home

Here are the steps to help make your dream home a reality:

  1. Select Your Builder: Research different builders based on their industry experience and reputation while also considering important factors such as your budget, needs, and style of home. 
  2. Find the perfect view: Find the perfect piece of land to build on by having your REALTOR or builder assist you in the research. Already own the land to build on? It can count toward your down payment on the loan.
  3. Design your home: Work with your builder to draw up home plans and specifications. These will be used to help determine the appraisal value of the home that you are getting ready to build.
  4. Start the loan process: FORUM will order the title report and plans + specs appraisal to help streamline your loan process to ensure an expedited closing date on the construction loan. 
  5. Begin building: Once the construction loan is closed, FORUM will facilitate an agreed upon draw schedule of payments to your builder as the home processes through the different phases of home construction. Don't worry - FORUM will be with you every step of the way if you have questions throughout the process. 
   

Talk to us

To apply for a mortgage or get answers to questions, call our Mortgage Specialists at 317.558.6160 or 866.367.8600 or email us at forummortgage@forumcu.com.

FORUM NMLS #469848
NMLS Registry Information for FORUM Credit Union Mortgage Loan Originators