Build a Home with Confidence
When you’re ready to build, timing matters. A construction loan from Bank of Utah gives you a structured way to fund your build in stages while keeping your long-term home financing in view.
Apply for Home Loan
Why Finance a Build with Bank of Utah?
Keep Financing Aligned
Work with the same loan officer from construction through your long-term mortgage, keeping your financing consistent from start to finish.
Manage Payments as You Build
Pay interest only on funds used as construction progresses. Your full mortgage principal is deferred until your home is move-in ready.
Move Projects Forward
Local underwriting and in-house processing help ensure draws and loan transitions move forward smoothly as your home takes shape.
How Construction Loans Work
Construction loans work differently than a traditional mortgage. Your financing follows the build itself, step by step.
1. Funds are released as work is completed
Funds are paid to your builder in stages, often called draws, as milestones are completed.
2. You pay interest only on what’s been used
During construction, payments are based only on funds already drawn.
3. Full mortgage payments begin after completion
Once construction is complete, the loan transitions to your long-term home loan, and your regular principal-and-interest mortgage payments begin.
Build a Home FAQs
Talk With Us About Your Construction Plans
Whether you’re just starting or already working with a builder, we’ll help you review timing, numbers and loan options.
Find a Loan OfficerAll loans subject to credit approval. Terms and conditions may apply.
