Construction Loans

Looking to build? UCCU has you covered.

Want to build your dream home instead of buying someone else’s? You deserve a loan that moves with you, one that covers the land, materials, and construction costs while your home takes shape, keeping things simple from start to finish.

Whether you’re building from the ground up, remodeling your current home, or adding on to what you already have, UCCU has flexible loan options to fit your project. We’ll help you choose the right financing based on your timeline, goals, and budget with expert support every step of the way.

Half built building with a sign saying UCCU coming soon

We offer low rates on every type of home loan.

This means, at UCCU, you could qualify for more house with the same payment you’d get from other local lenders.

That’s more money that you can put into your home, or back into your pocket.

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Contact Us

(801) 223-7640

How UCCU Construction Loans Work

We make it easy to understand what’s ahead — and even easier to move forward. Here’s what you can expect:

Simple approval process. Get pre-approved based on your builder’s plans and budget.
Flexible use of funds. Use your loan for land, labor, materials, permits, and everything in between.
Interest-only payments during construction. You only pay interest while the home is being built, which keeps monthly payments low.
Draws paid directly to your builder. We release funds in stages as construction progresses, so your builder gets paid on time.
Loan terms that fit your timeline. Most builds take 6 to 12 months, and we’ll structure the loan to match your project.
Options when the build is done. Choose the mortgage that works best for you — fixed, adjustable, or something more custom.
Help whenever you need it. Our team is local, responsive, and ready to guide you through every step — from your first question to final move-in.

Ready to Build? Let’s Talk.

Apply Now Get Pre-Approved Now

Whether you’re still sketching out ideas or already working with a builder, our construction loan experts are here to help. We’ll answer your questions, walk you through your options, and make sure you’re set up for success — from the first shovel in the ground to the day you move in.

Lot/Land Loans

Whether you’re planning to build your dream home or secure a piece of land for future development, our Lot & Land Loans are designed to help you take the next step with confidence.

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Please note: We currently offer loans only for land with year-round access and intended for residential use. Raw land or properties without access are not eligible.

Not Ready to Build Yet?

No problem — we can help you secure the perfect lot first. UCCU offers lot and land loans designed for buyers who are planning ahead. Whether you’ve found the right property but aren’t ready to break ground, or you want time to finalize plans and permits, we’ve got you covered.

Flexible terms to fit your timeline and budget
Fast approvals so you can act quickly when you find the right land
Local experts who understand the market and zoning requirements
Smooth transition to a construction loan when you’re ready to build

You don’t need to have everything figured out yet. Lock in your land now — and we’ll be here when it’s time to take the next step.

Frequently Asked Questions

A construction loan is a short-term loan that finances the cost of building your new home. Instead of receiving the full amount upfront, UCCU distributes funds in stages (called “draws”) as construction progresses. During the building phase, you typically pay only interest on the amount that has been drawn, helping keep monthly payments manageable.

To get a construction loan, you’ll start by applying, and providing details about your building plans, budget, and builder. We’ll review your credit, income, and project details to determine eligibility. Once approved, your loan will fund the building process, and after construction is complete, it can be converted into a permanent mortgage.

Most construction loans require a down payment, typically ranging from 5% to 20% of the total project cost. The exact percentage depends on your credit, income, and loan type. UCCU will review your application and let you know the down payment needed for your specific project.

Not with UCCU’s one-time close option. With this loan, your construction financing automatically converts into a traditional mortgage once your home is complete, saving you time, money, and additional closing costs.

Yes, but changes may require lender review and approval. Significant modifications to your building plans or budget can impact the loan amount or draw schedule. UCCU will work with you and your builder to update your loan if changes are needed.

Yes. UCCU offers convenient one-time close construction-to-permanent loans, which means you only go through the approval and closing process once. This option simplifies financing and helps you avoid paying multiple sets of closing costs.

Construction loans are designed to cover planned expenses, but many borrowers include a contingency reserve in their budget for unforeseen costs. UCCU can help you structure your loan to account for unexpected expenses, giving you peace of mind throughout the building process.

Yes! Getting pre-approved with UCCU before you begin construction gives you a clear idea of your budget and financing options. Pre-approval also strengthens your position with builders and ensures the project runs smoothly from the start.

Start your pre-approval today and build with confidence.