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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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 under 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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Have questions or need more help?


Schedule an Appointment

Schedule an appointment to connect with a UW Credit Union expert.

Appointments are available via phone or in person with our mortgage loan officers.>> Schedule Here

Request a Call

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Complete this form with your contact information and get a fast response from one of our experts! 
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Connect with a Mortgage Loan Officer

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Our knowledgeable and experienced team of mortgage loan officers is looking forward to working with you. 
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Learn more about home loans and get answers to frequently asked questions.

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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