Why choose a construction loan with VACU? We know construction loans and can help you finance building your home from scratch. Can include the land purchase OR pay off an existing land loan. We have fixed-rate loan options with 6, 9, or 12-month construction terms. Our easy-to-use digital platform to help pay your builder throughout your construction. Finance building your dream home in 4 simple steps Step 1 Talk to a mortgage loan officer.A mortgage loan officer will help you determine what 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 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 will move to closing, where all documents will be signed and you’ll pay your closing costs and any required down payment. 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. When your home is almost finished, your mortgage loan officer will help you refinance your construction loan to a permanent mortgage. Mortgage Loan OfficersWhether you’re looking to buy or refinance, we have a team of local mortgage loan officers ready to help. Learn more Virginia Statewide Title ServicesOffers 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 ResourcesSee 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. Helpful Articles Insider TipFinancing Your Dream Home with a Construction Loan ArticleHow to Save for a Down Payment ArticleWhat Does Homeowner's Insurance Cover? View more Start building your dream home. Break ground on your next adventure with the help of a construction loan. Apply now Talk to a mortgage loan officer
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.
Helpful Articles Insider TipFinancing Your Dream Home with a Construction Loan ArticleHow to Save for a Down Payment ArticleWhat Does Homeowner's Insurance Cover? View more