man and woman at construction site

New Construction & Vacant Land Loans

Take your dream beyond a blueprint with a construction or vacant land loan

Connect with our loan team
or call 715-833-7251

When you want to build a home, a construction loan from the home loan experts at Royal Credit Union is the answer. 

  • Royal offers construction loans for building your dream home or building a second home
  • You can include the cost of a land purchase if you do not already own the property where you are building
  • Land loans for vacant lots or recreational land are also available

Construction Loans

  • Our construction loan allows a building period of up to 9 months. During the construction period, borrowers pay only the interest on their construction loan.
  • When construction is complete, the loan converts to a conventional fixed-rate or adjustable-rate mortgage.
  • We offer flexible rate lock options, with the ability to lock in permanent financing at the start of construction or after construction is complete
  • One-time or two-time closing is available, depending on your needs

Vacant Lot Or Recreational Land Loans

  • We offer financing to purchase empty lots for future construction as well as land for recreational purposes like hunting
  • Agricultural land and other types of land used to provide income are not eligible for land loans
  • Financing options for land loans include 1-year, 3-year, and 5-year adjustable-rate mortgages

Adjustable Rate Construction/Land Loan Rate

Monthly Payment

Rate and payment are based on a loan amount of $245,000 for the purchase of a single family primary residence.


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