Man and woman standing inside a home that is framed for construction

Construction Loans

Receive all-in-one financing from BECU to build your dream home.

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BECU has the experience and great resources to help you build a home. Work with an experienced BECU mortgage advisor, who can help guide you and your builder through the homebuilding process. We'll also help you determine the best financing options for your circumstances.

With BECU, you can expect competitive loan-to-value ratios, competitive construction loan terms and the resources you need to make the homebuilding process easier.

Features and Benefits

  • Construction and permanent loan financing are rolled into one loan, so you can lock in your interest rate before you break ground.
  • We can help you finance your land and build your home.
  • Adjustable-Rate Mortgages (ARM) and Fixed-Rate loans are available.
  • Receive financing for loan amounts up to $3 million with up to 75% loan-to-value. Up to 80% loan-to-value also available for loan amounts of $2.5 million and below.
  • Interest-only payments are required during the construction period.
  • 12 or 18-month build periods are available.
  • You may exercise the interest rate float down option when construction is complete.

Construction Loan Rates

Construction 30 Year Fixed Rate
30 Year Fixed Construction
12 month construction term
APR Effective 6/14/2024
Construction Jumbo 30 Year Fixed Rate
30 Year Fixed Jumbo Construction
12 month construction term
APR Effective 6/14/2024

The Construction Loan Process

Receive financing from BECU to build your dream home. Whether you have already purchased property or you're just starting, BECU can help you get on the right path. For more information, download our Construction Loan Process Overview (PDF).

Meet Our Construction Loan Partner

BECU has partnered with Land Gorilla to bring a streamlined construction experience to builders and BECU members.

Frequently Asked Questions

A draw request is a documented request for funds from a construction loan that is paid to a contractor for work completed on the project.

BECU has partnered with Land Gorilla to bring a streamlined construction draw experience to you. Land Gorilla is a construction finance platform that gives BECU members real-time access to manage draws through a portal, OneSite. With OneSite, builders and borrowers have one centralized location to manage all draw activity including inspections, past draws and new draws. It also integrates inspector and title updates for a more efficient process.

No. BECU requires a licensed builder who goes through a review process. BECU wants to make sure our builder partners have a thorough knowledge and understanding of the BECU construction loan program.

No, you can receive financing for a land purchase and home build in one loan with BECU.

Yes. With BECU's construction-to-permanent loan, you will have one loan from start to finish and one set of closing costs and qualification. Once the final draw has been requested, BECU will work with you to finalize loan details as we convert your payment arrangement from a construction loan to permanent financing.

Construction loans are available in available in Washington, Idaho and Oregon only until further notice. Mortgage loans are subject to membership, credit approval, and other underwriting criteria; not every applicant will qualify. Certain restrictions apply. Home loan programs, terms, and conditions are subject to change without notice.