California Construction Loan

Build your dream home from the ground up.

Planning to build a new house in California? Our single-close construction loan may be right for you. A construction loan is a short-term loan used solely to construct your new home. After your home is built, your construction loan is automatically converted into a regular mortgage. This means no additional closing or credit check.

The best part? Once your loan converts to a regular mortgage, your loan may be eligible for our RateDrop* Program. This is where we lower your interest rate to the market rate without any additional paperwork, appraisal, or income documentation. It is just one of the ways we try to make your home ownership experience even better!

Found the perfect piece of land but not ready to build? Check out our Land Loans.

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The Process of Building a New Home

After deciding to apply for a construction loan, the next step is to find a trustworthy builder. Here's how:

Even after you've received some promising builder referrals, it's essential to follow best practices by conducting interviews and gathering information:

  • Do they have a track record of successfully constructing the type of home you desire?
  • Are they properly licensed and adequately insured according to your state's regulations?
  • Check their standing with the Better Business Bureau – do they have a positive rating?
  • Investigate their overall reputation and request references from previous clients.

To apply for a construction loan, you'll need to provide the following:

  • A contract from your builder, outlining detailed project pricing and plans.
  • References for your builder.
  • Proof of your builder's business credentials.
  • Standard financial documentation, including pay stubs, tax statements, income verification, and other prerequisites similar to those for a traditional mortgage.


Looking to do Renovations?

Use your home’s equity to tap into funds with a HELOC.

Learn More

Land Loans

Just Looking for Land?

We offer land loans in several states across the U.S.

Learn More

Construction Loan Contact Form

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      Subject to credit approval.

      *Standard underwriting guidelines, fees, terms, and conditions apply to new loan applications. Call for details. Eligibility, no previous loans with the Credit Union that were 30+ days delinquent over the past 12 months. The loan must be owned by the Credit Union. Loans sold to Fannie Mae or Freddie Mac are not eligible. $1,000 fee for loans less than $766,550 and $1,500 for loans greater than $766,550. If we are offering refinancing for the same product at no cost, the modification will be free. Fees cannot be added to the balance of the loan. Your rate will vary based on FICO score. Contact our Real Estate Servicing team for more information.

      NMLS ID #649058. Construction loans only available in California.