Construction Loans

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Create your dream home with simple, affordable financing.

Build a new house from the ground up or renovate your current home with a construction loan.

  • Low 10% minimum down payment
  • 12-month interest-only loan
  • Competitive fixed rate
  • Available for first or second homes

Easy Process, Expert Guidance

No matter where you're at in your journey—from setting your budget, to finding land and finalizing blueprints—our construction loan specialists will make every next step easy and stress-free.

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Rates as Low as

Ask us about our extended rate locks! Now available.



How a Construction Loan Works

Once you've identified the land you want to build on, have plans to purchase it and have finalized design plans, you can apply for a construction loan. Once you apply, we'll appraise your new home's designs and qualify you for the loan. Then:

  • We set up a draw schedule

    This establishes checkpoints for when we'll disburse funds to your builder. Typically, new builds have 4 to 6 scheduled draws for milestones in the building process, such as the completion of the foundation, framing of the home, etc.

  • The builder begins work on your home.

    Every time the builder reaches an established checkpoint in the draw schedule, your home will be inspected.

  • The builder finishes your home.

    After the builder has completed your home (or renovations), we'll schedule a final inspection and/or appraisal.

  • You refinance to a standard mortgage.

    While your home is being built, you'll only pay interest on your construction loan. As your new home nears completion, you'll apply for a new loan based on current market rates.

Get Started Today

Complete your FREE preapproval in as little as 15 minutes! In today's market, having a verified preapproval in hand from a trusted lender can make all the difference. 

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Get in Touch

We want you to feel at home with your home loan. That's why our local experts are always ready to answer your questions, understand your goals and help you take a smart step forward.

Phone Number 

(800) 533-6773

Already started an application? Pick up where you left off.

ITIN Lending - UWCU is proud to accept ITIN for mortgage lending applications. 


Learn more about home loans and get answers to frequently asked questions.

>> Explore FAQs

Easy Home Loan Process

As one of Wisconsin's top lenders1, we're here to make the loan process easy and stress free.

>> Our Process


Helpful Calculators

Use these free calculators to help you understand your personal situation and explore your options. 

>> Free Calculators