Photo of a mother and daughter cooking together

Construction Loans

Construction Loans

Building a home means spending a lot of time paying attention to the details, from blueprints to paint and everything in between. Luckily, choosing the loan that will finance your new home isn’t as complicated. Altabank’s experienced lenders will guide you through the financial side of the building process. We help keep your contractors moving with simple, fast, free draws so that you can get into your dream home on schedule.

Altabank’s consumer construction loans offer some of the most competitive rates available. You can save even more with a waived origination fee on your mortgage loan, a saved value of up to 1% of your mortgage loan, when you bundle your long-term financing with your construction loan.*

Building a House?

Bring your construction loan and mortgage together.

Get your construction loan and mortgage from Altabank and up to half of your loan origination fee can be credited towards your mortgage

Benefits of a single lender

Lower your closing costs

Lower your mortgage interest rate*

Coordinate closing dates

Single appraisal (available for mortgages of $1M and above)

Receive funds more quickly

Fast approval and local decision making

Multiple draws without additional fees

Exceptional service

Terms of Construction loan Origination Fee for Mortgage Loan Origination Fee for Construction Loan Construction Loan Interest Rate APR* for Construction Loan
With MyRate Checking® None 1.50% for 6 months
1.75% for 9 months
3.99% 11.315% for 6 months
9.943% for 9 months
Without MyRate Checking® None 1.50% for 6 months
1.75% for 9 months
4.49% 11.854% for 6 months
10.493% for 9 months

*Interest rates are determined by a number of factors including credit score and loan amount.