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CONSTRUCTION LOANS

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Let’s build the dream

  1. Pay off an existing land loan or finance new construction
  2. Available for single and multi-family homes
  3. Wrapped up in a single, fixed-rate mortgage

Finance up to 95% of your project’s value

We meet you where you are with options to help you achieve your building goals.

  • Keep it easy with streamlined financing
  • Save with interest-only payments during construction
  • Borrow up to 95% of your building’s value
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FROM OUR COMMUNITY

“Been banking here 26 years. Becky recently helped me get my banking needs taken care of quickly and was friendly and professional. I’ve had great service over the years at this community-minded credit union.”

Erika D.

Your money does good

Simply by being a member you’re helping to make a difference across our communities.

  • Affordable Housing

    We’re helping more people find homes and essential shelter through partnerships with nonprofits and local government.

  • Volunteering

    Our employees are given paid time off to volunteer for community programs of their choice.

  • Local Organizations

    We partner with organizations that help to enrich and nourish the lives of our neighbors.

  • Food Access

    We fund programs that help fight food insecurity across our communities.

Bank from your
phone anytime

Bank on the go with our mobile app, and keep it all on track.

  • Access all of your Lighthouse accounts
  • Make easy, secure loan payments
  • Mobile deposit your checks*
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Construction Loan Rates

Current interest rates

Loan TypeInterest RatePointsAPR
30-Year Fixed7.000%0.007.267%
30-Year Fixed Jumbo7.000%0.007.124%
1/1 ARM Land Loan10.250%0.0010.792%

Effective date: November 21, 2024

Construction Loan Disclosures

Annual Percentage Rate (APR) shown is the lowest rate offered, including discounts and based on credit score. Rates are subject to change without notice.

The Fixed 30 Year Construction loan term begins with a 12 month interest only construction period followed by a fully amortized re-payment period for the remaining 348 months.

Construction loans are only available if home is being built in New Hampshire or Maine.

Construction Mortgage Payment Example

A payment example for a Construction Mortgage Loan with $100,000 loan amount and 6.250% interest rate and annual percentage rate of 6.863% will have a monthly principal and interest payment of $623.02.

The APR in the payment example was effective on April 20, 2023. The current APR may be different than the APR used in the payment example.

1/1 Land Loan (ARM)

The 1/1 Land Loan ARM offers a fixed rate for 1 year and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S Treasury, plus a margin of 6 percentage Points. Caps are 2% annual and 6% lifetime.

Financial Calculators

Banking is better for our members with fair rates, affordable loans, and promising financial futures. And money can do more when put back into projects for affordable housing and helping those that need a hand up.

Personal Financing

Start making an impact today

Put your money to work, and see the benefits in your accounts and the world around you.

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