Construction Loans

Build your dream

What does it take to build your own home?

Are you interested in building your own home, but not sure what it takes? Not to worry, we’ve taken members through this process hundreds of times. That’s why we can help you each step of the way. Here’s a brief overview of what you’ll need and what will happen.

The first thing you’ll need to do is create a set of house plans. You can hire an architect, find one online, or select a larger builder. You’ll also need a contractor to actually build your new home. Once you have the necessary help, we work together to create an itemized budget.

After your budget is complete, we can finish your loan & the work gets started! During the construction phase, you and the builder will submit construction draws. These are periodic payments to your contractor as they create the home.

Each month of the build period, Deseret First will perform inspections. In detail, we check that the work done matches up with the money drawn out. Not to mention, making sure the actual build is following the architect’s plan!

Finally, welcome home! Once your new abode is complete, you may want to consider long-term financing. In particular, we offer 15 and 30-year loans to pay off the construction loan.

Unique Loan Benefits and Features

no out-of-pocket payments during construction
draw checks done locally
include your lot as part of the loan
available for primary or secondary residences

Loan Requirements

You’ll need:

membership and eligibility
credit approval
a licensed contractor

And we can help you get there! With so many options available, let Deseret First help find the right loan for you. Call a Deseret First Mortgage Officer at 801-456-7088 or 800-326-3328 ext. 7088. Available Mon-Fri 8:30am–5:30pm.

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Our Mortgage Loan Officers teach — not sell

Mortgages Officers at Deseret First Credit Union

Home buyers rate us 4.5 stars: “Extremely Satisfied”

“Our loan officer provided the most professional, friendly service we have experienced when purchasing a home. We will definitely refer him and DFCU to friends; can’t speak highly enough of him.”

— Adam

“Quick and thorough. Very kind and courteous. they answered our questions and helped us understand the process.”

— Randy

“Thank you for making the process so positive. We felt safe in your hands.”

— Joseph

“I couldn’t have asked for any better–the mortgage team was so quick to respond to all questions and concerns that I had. It was very comforting to know I was working with a group that has great knowledge in this area. Thanks soooo much!!”

— Tina

“This was such a pain free experience. We highly recommend DFCU.”

— Stephen

Your loan application builds your foundation!

Start the groundwork

Construction Loans

Build your dream

We’re Paying for your Construction Appraisal!

Limited Time Offer

Develop a haven of your own

The perfect spot. The perfect home.

See what DFCU can offer you: