Construction
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The following guidelines are subject to change by the
Board of Directors of Colville Tribal Credit Corporation.

This loan program is designed for new home construction on property located within the State of Washington.  Homes may be constructed on either fee or trust land; however, 100% ownership of trust land is required.

  • Eligible applicants include enrolled Colville Tribal members over age 18 and their spouse, if married.

How do I apply?

To apply for a loan, an applicant must submit the following:

  • Completed and signed loan application.
  • Income Verification (current pay stub or two years of IRS tax returns)
  • Purchase and Sales Agreement if land is being purchased or legal description of land if it is currently owned by borrower
  • Blue prints and cost estimates of proposed construction

What additional steps/information are required after loan approval?

If applicant is approved for a construction loan, the following information/additional requirements will be:

  • Appraisal of proposed construction and land
  • Title insurance or Title Status Report evidencing clear title
  • Completed contract between Borrower and Licensed and Bonded Contractor.  Contractor must also provide Builder’s Resume for Colville Tribal Credit review and a list of the last three major projects they have completed.  Contractor must also have liability insurance.
  • Borrower must obtain necessary permits required for the project.
  • Borrower must have builder’s risk insurance or obtain “course of construction” insurance along with an “installation floater” for contractor.  Colville Tribal Credit  Corporation must be listed as lien holder on the policy.
  • Colville Tribal Credit will require a 10% holdback on all advances related to the project.  There will be no “start up” advances.
  • Colville Tribal Credit will require lien waivers from contractor, subcontractors and vendors or will make checks jointly payable to contractor, subcontractor and/or vendor.   Invoices for supplies will be paid directly to vendor.
  • No construction will be commenced prior to recording of our Mortgage/Deed of Trust.  If construction has commenced, Contractor must subordinate his lien position to Colville Tribal Credit.
  • Periodic inspections of the site will be made by qualified individuals and/or Colville Tribal Credit.
  • Certificate of Occupancy must be obtained prior to move in.

Please contact our Real Estate Loan Officer at 509 634-2664 for additional information.

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