Construction Loans

Why choose a construction loan with VACU?

We offer construction-to-permanent and construction-only loans.

Construction-to-permanent loans are adjustable rate 12-month loans.

Construction-only loans have fixed rates with 6, 9, or 12-month construction options.

Can include the land purchase OR pay off an existing land loan.

Our easy-to-use digital platform will help pay your builder throughout your construction.

Finance building your dream home in 4 simple steps

A mortgage loan officer will help you determine if a construction‐to‐permanent or construction‐only loan works best for you and if you need to buy land with the loan.
Our mortgage team will help you get pre-qualified and apply for your loan.

Apply now

Before we can help you close the loan, we’ll need you to finalize your plans and specs with your builder.
Once finalized, we’ll create a “draw schedule,” which will pay the builder from your loan.

Once approved, your construction loan and permanent mortgage will move to closing, where all documents will be signed and you’ll pay your closing costs and any required down payment.
NOTE: If you choose a construction‐only loan, the closing would only include the construction loan.

After you’ve closed, your builder is ready to break ground!
We’ll help you streamline the building process through our partner, Built, an online accounting platform to help you pay your builder more easily from the loan.

For a construction-to-permanent loan, your loan will transition to a permanent mortgage.
For a construction-only loan, we can work with you to refinance your construction loan to a permanent mortgage.

A mortgage loan officer helping a member

Mortgage Loan Officers

Whether you’re looking to buy or refinance, we have a team of local mortgage loan officers ready to help.

Learn more

Virginia Statewide Title Services

Offers affordable title insurance to protect you against defects in your property title and can also connect you with a participating closing attorney in your area.

Learn about Virginia Statewide Title Services

Mortgage Resources
See More Resources
- What to Expect During the Mortgage Process
  Buying or refinancing a home is easier and you can feel more confident when you know what to expect. Here's a guide to our mortgage loan process.
- A Guide to Home Buying
  In this helpful video series, we'll walk you through the basics of buying a home.
- Construction Loan FAQs
  Frequently asked questions about construction loans.