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Ent Credit Union
Construction Loans

Short Term Interest Only Construction Loans

We are pleased to offer a construction loan program which enables our members to finance the construction of their new primary residence or second home. Maximum loan amount is based on the lesser of 80% of the cost to build, including land value, or 70% of the appraised value up to $500,000.00. For loans above $500,000.00, the maximum loan amount is based on the lesser of 80% of the cost to build, excluding land value, or 70% of appraised value.

Ent's construction loan is a short term interest only loan, up to 12 months for construction of the property. When a member is approved for a construction loan, they are conditionally approved for permanent mortgage financing through Ent. Approximately 90 days prior to completion of construction, the member will start the process to secure permanent financing. At that time, the member can lock their permanent financing interest rate.

Ent disburses loan funds during the course of construction. The amount of funds disbursed is based on monthly physical inspections of the property which determines the percentage of the home's completion.

Members may apply online, by phone, or in person for a construction loan. Please note that Ent construction loans are not available for owner builds, modular homes, kit homes, or building an addition to an existing home.

Special construction loan documentation is required through the construction loan approval and closing process:

  • Builder Approval
  • Construction Plans
  • Specifications
  • Job Cost Breakdown
  • Contract between Member and Builder
  • Builder's Risk and Liability Insurance Coverage
  • Soils and Perc Tests (when applicable)
  • Plan Approval through Local Building Department
  • Building Permit

Standard credit qualifications apply. All loans are subject to final credit approval. Financing on homes in Colorado. Consult a tax adviser for further information regarding the deductibility of interest and charges.