Construction & Land Loans

Turn "One Day" Into "Day One Breaking Ground"

Construction & Land Loans

Get a construction loan and build your new home on an owned or new lot or remodel your existing residence.
  • Construction Loans – Build the house that becomes your home.
  • Lot/Land Loans – Purchase land with confidence, whether you're ready to build now or planning for the future.
  • Bridge Loans – "Bridge the gap" between buying and selling, giving you the flexibility to purchase your next home before your current one sells.


Working with BHCCU

  • Competitive Rates & Programs: Use existing lot equity towards your down payment.
  • Loan Options: Adjustable-Rate Mortgage (ARM), 2nd Home, & up to 90% Loan to Value (10% Down Payment).
  • Local Team: Apply with a local, professional BHCCU Mortgage Loan Officer, work with experienced servicing during your construction phase along with hometown underwriting and processing.
  • Fast Processing & Single Close Transactions: Simple, quick transaction into conversion phase (fixed remaining term).




Construction Loans

Building your dream home? Our construction loans offer flexible financing from the ground up — often with single-close options. Combining construction and permanent financing into one streamlined transaction. The ability to use existing lot equity toward your down payment and finance up to 90% loan-to-value, makes building simpler from start to finish.

Construction loans are unique. Funds are released as work is completed rather than all at once, and interest is only charged on the amount that has been disbursed so far. This model helps manage costs and stay aligned with your build progress.

Lot & Land Loans

For buying land (with or without immediate plans to build) you can purchase land before construction begins. We can customize a loan to fit your needs.

Once building starts, your lot can be financed as part of the construction loan. If you already own the land, you may be able to use your lot equity for your construction loan.

All Lot & Land Loans are adjustable-rate mortgages. Take advantage of contributing lower payments while planning construction loan.

  • Lot Loan Option 1
    • Down Payment: 20%
    • Build Timeframe: Build Within 12 Months
    • Lot Size: Less Than 25 Acres
  • Lot Loan Option 2
    • Down Payment: 30%
    • Build Timeframe: Build Within 1-3 Years
    • Lot Size: Less Than 25 Acres
  • Land Loan
    • Down Payment: 40%
    • Build Timeframe: None
    • Land Size: More Than 10 Acres

Bridge Loans

Short-term financing between selling and buying homes. A bridge loan provides you with immediate cash flow so you can make purchases now.

This loan is backed by the equity in your home for your next home purchase or construction loan transaction. (Use existing home equity towards your construction loan down-payment.)

Borrow against up to 80% of your home's appraised value. Take advantage of no monthly payments during the loan term.

  • 6 Month Program – Next Home Purchase
  • 10 Month Program – Construction Loan

 

Construction Loan Process

Whether you're building your dream home, purchasing land, or buying your next home before selling your current one, we help you find the financing solution that is right for you.

Our Construction Loan Process is Easy, Simple, & Personalized

Through this whole process, we will be as upfront, transparent, and communicative as we can, to make sure you are always informed and aware of how things are progressing. 

Before Breaking Ground
Member Will Receive:
  • 24–48-hour loan pre-qualification and pre-approval.
  • Approval on loan application.
  • Appraisal using building plans, specs and lot detail from us.
Member Will Provide:
  • Land information to use as equity.
Member Will Accept:
  • A Title Commitment & Construction Oversight.
Member Will Close:
  • Construction loan with BHCCU loan officer.


While Building
BHCCU Will Provide:
  • Guidance through the construction loan draw process.
  • Deliver a monthly statement for interest due on the disbursed funds.
  • Review any change orders and or contractor credit memos…if applicable.

The members, loan officer, title escrow officer and contractor will be in close contact throughout the build.

The Title Company, Member, Lender, Contractor will work together to release funds during this time.


Before Move-In Day
  • Complete the final inspection with the builder (checklist) before the final disbursement.
  • Obtain a municipality occupancy permit.
  • Order appraisal recertification of value for the completed home.






































The Step-By-Step Breakdown

Construction Loan Process
Before breaking ground, we’ll help you understand what you qualify for — typically within 24–48 hours. This gives you confidence as you finalize plans and budget with your builder.


Once your plans are in place, you’ll work with one of our local Mortgage Loan Officers to submit your construction loan application. We’ll verify your finances and review your builder’s details so we can move toward approval together.


To protect you and BHCCU, we order an appraisal using your building plans, specifications, and lot information — which may include using your land as equity.


Once everything checks out, you’ll receive your final construction loan approval and close with your MLO.
This is when your construction financing is finalized and you’re ready to begin building.


During construction, funds are released in phases as work is completed.

Our team will:

  • Guide you through the construction draw process — similar to phased disbursements tied to milestones like foundation, framing, and finish work.
  • Provide monthly statements showing interest due on the funds that have been released.
  • Work closely with you, the builder, and the title company to ensure draws are accurate and well-coordinated.


Before move-in day, we’ll walk through a final inspection with your builder and help ensure all conditions are met.

Once complete:

  • You’ll obtain your municipality’s occupancy permit.
  • We’ll order a final appraised value for your finished home.














We’re here to walk you through the process, answer your questions, and help make your new home a reality.
Want to schedule an appointment? Connect with a Mortgage Loan Officer today!