Construction Loans
Building your dream home is easy and affordable when you choose Goldenwest for your construction loan.
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Choose a Closing Type
One-Time Close Construction Loan
Why choose our One-Time Close Construction Loan?
Enjoy a single closing with various benefits. Streamline your construction financing with one convenient closing, saving time and reducing costs.
Interest-only payments are made during the construction phase with monthly payment amounts increasing as funds are utilized.
Upon completion of construction, the loan converts to a long-term mortgage and monthly payments begin.
- Up to 90% financing
- Construction must be complete within a 12-month period
- As low as 1% origination fee
- Fixed Construction Loan rate
- 7/1 & 5/1 ARM long term mortgage
- Float-down rate option upon construction completion
Two-Time Close Construction Loan
Why choose our Two-Time Close Construction Loan?
Our Two-Time Close Construction Loans give you more flexibility and control over your financing throughout the building process.
Two separate loans: Start with a Construction Loan to cover the build. Once your project is complete, the Construction Loan will be rolled into a long-term mortgage with a refinance. This transition gives you the flexibility to choose the best loan terms available and the option to increase your loan amount if needed.
- Up to 90% financing
- Up to 12-month term, with extension options
- As low as .50% Origination Fee
- Fixed construction loan rate
Choose the Right Builder
Contract Builder
Looking to build your dream home with the use of a qualified licensed general contractor? Goldenwest Credit Union offers financing with competitive interest rates with a low-down payment.
- Up to 90% financing
- One-Time Close and Two-Time Close Construction Loan options
Owner Builder
Looking to build your dream home by yourself? Goldenwest Credit Union offers financing with competitive interest rates for borrowers who can demonstrate qualified self-build experience.
- Up to 85% financing
- One-Time Close and Two-Time Close Construction Loan options
- Must provide Owner-Builder Letter detailing building experience
From Lot Loan to New Home
Learn about how to navigate building your dream home
Ready to Get Started?
Connect with one of our Mortgage Experts to discuss your vision and explore your financing options.