Home Loans at Virginia Credit Union
A couple in their new home under construction

Construction Loans

We have the tools to help you build your dream home from start to finish.

We offer

fixed rates

on construction-only loans.

Flexible terms

6, 9, 12 

month options to choose from.

Loan can also include


or you can refinance your land loan.

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 5 simple steps

Step 1
Talk to a mortgage loan officer.
  • 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.
Step 2
Finalize plans with your builder.
  • 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.
Step 3
Close 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.
Step 4
Start building.
  • 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.
Step 5
Transition to a permanent mortgage.
  • 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.

A woman working at her desk

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.

Start building your dream home. 

Break ground on your next adventure with the help of a construction loan.