Build your dream
Develop a haven of your own
The perfect spot. The perfect home.
Are you planning to complete construction within 12 months? Is your build site in Utah or Idaho? If so, Deseret First can help you throughout your loan process. Our Loan Officers have the experience and resources to make it simple and affordable. So go ahead, build that secret passageway!
See what DFCU can offer you:
- Monthly inspections to ensure progress
- Conventional loans available for long-term financing
- Lien release checks to protect ownership of your home
- No out-of-pocket payments during construction
- Include your lot as part of the loan
- Available for primary or secondary residences
What does it take to build your own home?
One-Time or Two-Time Close
Only sign one set of documents and close on one loan.
- Choose between a 9 or 12 month construction term
- During the construction period, payments are interest only and made from the loan proceeds
- Choose between 15 and 30 year long term
- Lock your long term rate at the beginning of construction
- Draws and underwriting are done locally.
Close on two loans, one construction loan and one for long term financing.
- If you aren’t sure how long it will take to complete, extensions (at a cost) are available
- Cost overruns can be covered with the long term financed (in applicable scenario’s)
- Long term rates could be lower when the home is complete>
- membership and eligibility
- credit approval
- a licensed contractor
Our Mortgage Loan Officers teach — not sell
Home buyers rate us 4.5 stars: “Extremely Satisfied”