Design and build your dream home–we’ll provide affordable financing for construction costs. FVS Bank has been helping individuals and families find their dream homes since 1934. With local advising, local decision-making, and local processing—we keep your construction loan close to home.

What is a construction loan?

This is a type of short-term financing to cover all the costs of the construction process from breaking ground to obtaining a certificate of occupancy. It’s possible to make interest-only payments during construction. Once your new home is ready, your construction loan balance must be converted to a conventional mortgage loan.

Instead of paying out a lump sum, your contractor can make draw requests at each stage of the process. We will also inspect the progress along the way.

Types of Construction Loans

• Construction-To-Permanent Loan: The application process and closing day–temporary financing is automatically converted to a long-term mortgage.
• Renovation Loan: Instead of building a brand new home, you buy a fixer-upper and borrow the cost of renovations in your mortgage.

Land Loans vs. Construction Loans

If you want to buy land and start building on it right away, you’ll want a construction loan. If you already own land and are ready to build, a construction loan would also be the best option.

If you just want to buy your land now and build at a later point, a land loan is probably the best option.

Apply for a Construction Loan in Wisconsin!

Let us help you build your dream home! Conveniently located in Fond du Lac, Oshkosh, and Waupun, our home loan specialists are here to guide you through the home construction loan process. For more information, please contact one of our home loan specialists to learn more. You can also start the application process online.