CONSTRUCTION LOANS

Break ground with a construction loan.

Our construction loans are designed to make financing your home construction convenient and affordable. Whether you already own land and are building your primary residence or you’re remodeling your current home, our local lenders are here to help you every step of the way.

Why choose Elevations for your construction loan:

  • Loans available up to $7 million

  • Competitive variable interest rates

  • Your land’s equity contributes toward the project’s down payment

  • Interest-only payments on the amount you draw while you build, so you can conserve cash flow

  • In-house underwriting, approvals, credit decisions and construction draws for a faster process

  • Lending professionals with deep knowledge of Colorado markets and strong relationships with local builders

  • Construction loan and mortgage services all in one place, so you can easily transition to a new mortgage

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What can I finance with a construction loan?

Maybe you’ve found the perfect lot with an Aspen grove close to the trails, or a Front Range spot that just feels like home. Whether you’re building big or small, stick or prefab, our construction loans are designed for all homes. We finance primary residences, second homes and investment properties, plus remodels of current homes. Not sure if we can finance your project? Let’s figure it out.

How financing your home build works.

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Secure financing.

Get approved for your construction loan and prequalified for your new mortgage by providing your project’s budget from your contractor and anticipated final home value from an appraiser.

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Build it.

Make payments to your builder from the loan as key milestones are reached. During this time, you make interest-only payments on the amount drawn from the construction loan.

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Transfer loan to your mortgage.

Once you receive your Certificate of Occupancy, the balance of your construction loan is rolled into your permanent financing, and you’ll begin making monthly mortgage payments.

All of your home financing under one roof.

We take care of the prequalification for your permanent financing upfront so you can focus on what matters: your home build. And you’re in good hands — our experienced, award-winning team is the No. 1 credit union mortgage lender in Colorado. We can help you select permanent financing that fits your budget from a variety of mortgage options.

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More ways we can help you

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MORTGAGE

Access many loan options from Colorado’s No. 1 credit union mortgage lender.

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HOME EQUITY

Use your home's value to renovate, fund education or even refinance debt.

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MORTGAGE REFINANCE

Refinance your mortgage to save money or use your equity for expenses.

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