Building with Confidence Starts by Staying Connected
Deciding to build or renovate a home is a big decision, and an even bigger project! With how important this process is (and how complex it can be), it’s essential that all parties, including you, your builder, and your lender, are on the same page. At Sun Federal Credit Union, our construction‑to‑permanent financing is built around communication—so every party moves forward together, with you involved and informed at every stage.
This approach keeps the experience organized, transparent, and personal, so you can focus on your vision while we take care of the finances. The construction-to-permanent process has several steps:
Step 1 – Getting Started: Borrowers set goals and timelines, discuss their vision, work individually with a dedicated loan officer to explore options, and review financing to align expectations.
Step 2 – Preparing for Approval: The lender guides borrowers through construction plans, builder details, and required documentation. Financials and construction elements are reviewed while consistent check-ins support progress through the loan process.
Step 3 – Closing and Construction Kickoff: Financing and construction close together in a combined closing. Borrowers are introduced to communication tools connecting them with the builder and Sun Federal Credit Union and receive contact information for dedicated support before construction begins.
Step 4 – Staying Connected During Construction: Borrowers track progress through a shared online platform, view updates, inspections, and photos, and have funds released as verified construction milestones are completed.
Step 5 – Managing Payments While You Build: During construction, borrowers make interest-only payments, contribute toward real estate taxes and hazard insurance, and benefit from locked-in long-term financing that reduces uncertainty.
Step 6 – Transition to Your Finished Home: After final inspections and documentation are completed, the loan seamlessly transitions into the permanent phase without requiring a second application or loan.
Step 7 – Life After Construction: Homeowners move to regular monthly payments, access loan information digitally at any time, and continue working with a trusted local team.
A More Personal Way to Build
Sun Federal’s construction‑to‑permanent finances your project, but that’s not everything—it also keeps you involved, informed, and supported on what could be a once-in-a-lifetime journey. With clear communication and personal guidance, you’re never left guessing as to where your project stands. From planning to move‑in day, you’ll have a financial partner focused on making the experience as solid as the home you’re building, and as stress-free as possible.