Finance the mountain home you want to build

A construction loan funds the build in stages, called draws, as work is completed and inspected. During construction you typically pay interest only on the amount drawn so far. When the home is finished, the loan converts to — or is refinanced into — a permanent mortgage.

Expect to provide detailed construction plans, your builder's information, a cost breakdown and budget, a construction timeline, and proof of income and assets. We'll walk you through the complete list for your project.

Owner-builder financing is available for some qualified borrowers, but it's harder to get. You'll generally need to show relevant construction experience and meet additional requirements.

It depends on the project. Plan, budget and builder review plus an as-completed appraisal all take time. Once we've seen your plans, we'll give you a realistic timeline so your financing stays in step with your build schedule.

Construction loans often require 20–25% down, depending on the program. If you already own the land, your equity in it may count toward that requirement.