Construction Loans

If you plan to build your dream home, a custom construction mortgage is the way to go. Whether you’re building a primary or secondary home, Consumers can provide construction loans up to 95% of the value.

Plus, you’ll benefit from:

  • One-time closing, which means less paperwork to sign and fewer closing fees.
  • Locking in your rate at the time of application for up to 12 months ­– even if interest rates rise while you’re building.
  • A low, fixed construction administration fee.
  • Quick builder approval process.

Upon completion of construction, your loan rolls over into a standard mortgage. It’s hassle-free because there’s no additional paperwork.

Land and Lot Loans

5/5/5 Buildable Lot Loan

This unique loan requires just 5% down at 5% APR* for those looking to finance a lot purchase with the intent to build. The rate is fixed for 5 years at 5%, but amortized over 30 years—and rolled into a construction loan when you are ready to build. These loans put new home construction within reach for many Consumers members.

To be eligible, you must have a credit score of at least 700, and the lot must be less than 10 acres. If the loan amount exceeds $100,000, a larger down payment may be required.


Recreational Land Loan

If you’re looking to purchase more than 10 acres for recreational use with no intent to build, this loan option may be for you. It requires 25%** down on an aggressively low fixed rate over 30 years.

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Learn more about Mortgage Basics
Two young girls holding cardboard boxes on a front porch about to enter the door

Learn more about the mortgage process and find the documents you'll need to get started.

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Personal service from local lenders

Everything about loans at Consumers is done locally–including underwriting, processing and servicing. Throughout the construction loan process, a mortgage loan officer is your single point of contact. You’ll get the guidance and answers you need–when you need them–every step of the way.

Find a Loan Officer

Savings Goal Calculator

Determine how soon that new house is going to be yours with our savings goal calculator.

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