Take advantage of HCFCU’s Owner/Builder Construction Loan

As the real estate and business lending subsidiary company of Hawaii Central Federal Credit Union (HCFCU), CU Network Services has carried on the credit union philosophy of “People Helping People.” Even with the challenges of today’s economy and uncertain future of the housing market, CU Network Services is able to find innovative ways to help members achieve their financial goals, including becoming a homeowner.


Unfortunately, the high prices of homes in Hawaii can be discouraging to a potential buyer. But what about building your own home? A CU Network Services “Owner/Builder Construction Loan” has become a popular option. If you, a trusted friend or family member has a construction background, this loan program will enable you to build your own dream home, one designed and built to your specifications and at a considerably lower price per square foot than comparable homes on the market.

CU Network Services Loan Specialists are experienced in financing home-building projects for owner/builders — they understand the process and some of the obstacles the borrower will have to deal with on the way to completion of their own home.

For example, if you have found a tear-down or fixer-upper on a lot in a neighborhood you like because of its convenience to a workplace or school, you will probably find that most lenders will not provide financing because of the condition of the home. However, an Owner/Builder Construction Loan would make it possible for you to purchase this home with the objective of rebuilding it or tearing it down and building a completely new home.


This very specific type of financing is a specialty of CU Network Services. To find out if it will work for your project, make an appointment to sit down with a CU Network Services lender. If you have located a property you wish to purchase or already have one in your possession, such as an old family home that may or may not be salvageable, a lender will go to the site and work with you to evaluate your options as an owner/builder.

Based on your income and credit rating, they will be able to give you an idea of the loan amount you might be able to qualify for. If the project is feasible, the next step would be to obtain plans and permits for your renovation or new custom home. Once the project is approved, and the financing is in place, the loan specialist will be with you every step of the way until final completion.

The owner/builder option may not be for everyone. But if you and your project qualify for the financing, you will be on your way to owning a home that has been designed to meet your specific needs, and for considerably less than what you would have paid for a new turnkey home on the market.


To learn more about the Owner/Builder Construction Loan, or any of the other loan products available, call 529-4599. You also may visit the CU Network Services office located at 681 S. King St. next to the HCFCU lobby entrance. Home loans are processed by CU Network Services (NMLS #375459), a wholly owned subsidiary of Hawaii Central Federal Credit Union (NMLS # 412820).

CONTACT: 536-3677
WEBSITE: www.hccu.info


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