Construction Loans

Building your dream home can be easy and affordable when you choose Goldenwest for your construction loan.

One-time and two-time options are available to best fit your needs.

Benefits of a Goldenwest Construction Loan:

Competitive low rates
Local underwriting
Weekly unlimited draws
48-hour draw turnaround
Owner Builder or Contractor Builder

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Construction Loan Rates*

as low as

1X Close Float-Down Option

Enjoy peace of mind with our float-down feature, allowing you to take advantage of lower market rates upon receipt of Certificate of Occupancy and Appraisal.

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.

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

Start Your Build with Confidence

Whether you're building a custom home, an ADU (Accessory Dwelling Unit), or a unique barndominium, we've got you covered with our flexible construction loan options. Our loans are designed to make your dream project a reality with features that simplify the process and save you money.

Contractor 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

Accessory Dwelling Unit (ADU)

Goldenwest Credit Union is committed to finding solutions for aspiring homeowners! We are proud to now offer ADU financing.

Affordability: Generate rental income to offset your mortgage payments
Investment: Turn unused space to a profitable asset
Lifestyle: Living space for family and friends
Down payment: Low to no down payment options
New construction with ADU: attached or detached
Existing home with new construction ADU: 1st or 2nd Mortgage
Phased new construction: ADU today, dream home tomorrow

Barndominium

Up to 90% financing
One-Time Close and Two-Time Close Construction Loan options

Barndominium must meet the following conditions:

Home is built on footings and foundation
Home is a traditional-stick-built

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Ready to Get Started?

Connect with one of our Mortgage Experts to discuss your vision and explore your financing options. We’re here to guide you through every step of the process, from Lot Loan to New Home.