4.10% Certificate Special
Get 4.10% APY*
Get 4.10% APY* with a 13 month term and $500 minimum deposit.
Open Account Online

Construction Loans

Building your dream home? Start with a mortgage that's built around you.

Build Your Dream Home

Are you looking for a new home but not finding the right fit? With a construction loan from OKCU, you can build the perfect home for you and your family.

Apply Now
One-Time Close

Our one-time close program allows borrowers to simplify and streamline the construction financing process, with just one approval, one closing and one set of closing costs. 

Permanent Rate Lock Upfront

The construction loan will automatically convert to a permanent mortgage upon completion of the construction project.

Excellent Service

Keep your mortgage close to home. OKCU's dedicated mortgage team is here to guide you throughout the process.

Apply Now

Important Information: One-time close construction loan financing is subject to credit approval and underwriting requirements. Construction must be completed within the approved construction period. Extension fees may apply if additional time is needed. Other restrictions may apply. Contact OKCU for complete details.

Construction Loan FAQs

It’s a good idea to meet with a Mortgage Consultant before you start the construction process. A pre-approval with Oklahoma's Credit Union will help you understand your buying power and accurately work out the details of your new home construction with your builder.

We will require that you use a licensed, bonded builder. The local Home Builders Association is a good resource for a list of licensed, experienced builders. We strongly recommend that you obtain and contact builder references, however OKCU cannot recommend any specific contractors or builders. Borrower cannot act as builder.

The amount needed for down payment will depend on the mortgage program selected, contact your Mortgage Consultant for details

If you have a loan on your land, we will pay off that lien as part of your construction loan.

This greatly depends on your qualifications for construction financing. Your Mortgage Consultant will closely examine your financial situation and help you determine your options and whether selling your current home is necessary.

This can vary greatly, but the average time to build is about 9 to 12 months.

Our construction program offers you maximum flexibility without incurring additional fees and charges. Because our Construction program is a “one-time-close, construction-to-permanent” loan, you are only required to go through one approval process, one closing, and pay one set of closing costs.

Construction financing costs differ across mortgage programs and are influenced by the unique characteristics of each home construction project. To ensure clarity on expenses tailored to your circumstances, your Mortgage Consultant will provide an upfront estimate based on your specific situation.

You will make interest-only payments based on the balance that has been drawn by your builder. We will invoice you each month so you will know exactly what is due.

There are several options available to lock-in an interest rate, contact your Mortgage Consultant for assistance.

Okie Life

Check out our latest Okie Life blog articles to learn more about how you can do more with your money.

  • Blog Post
Debit Cards vs. Credit Cards
July 15, 2026
  • Blog Post
Banking Terms You Should Know
July 1, 2026
  • Blog Post
Are You Paying for a Lifestyle You're Not Using?
June 15, 2026
View more articles
Happy to Help
OKCU did a flawless job on our home loan. They walked us through every step of the process and made sure we had everything we needed to close promptly and without a hiccup.
Daniel D.
Member Since 2018
OKCU has helped me keep everything going smoothly with my mortgage. OKCU just makes my life easier.
Dennis F.
Absolutely wonderful experience with my loan. Competitive rate, complete transparency, availability to answer questions, no pressure tactics.
Abhijeet K.
When my husband and I first arrived in America, we were filled with hope and ambition, but our financial situation was far from ideal. With a zero credit score, our dreams of owning a home felt out of reach. With OKCU's support, we were able to purchase our first home—a place where we could start our small family and build a future together. They didn't just help us buy a house; they helped us turn our dreams into reality.
Zynab A.
I had a home mortgage with seven years left on a 15-year mortgage. My husband and I decided to make an appointment with OKCU to discuss refinancing to a 5-year loan. Once my husband and I were in the office doing the paperwork, he asked "Why would you want to save us money?" The mortgage officer responded, "Because we are here to help you save money. That's what we do!" Since then, we have refinanced and paid off our home.
Carol D.
OKCU reached out and helped me refinance my home during the pandemic. I was able to save money on my monthly mortgage payment and reduce my interest rate by a lot. Everyone I have interacted with at OKCU has gone above and beyond to help with all of my needs.
Brian B.
0 Days
Average Closing Time
0 Years
OKCU Real Estate Team Experience