Construction Loans

Building the Home of Your Dreams.

Make your blueprint a reality

When you’re looking for a loan to build a home, Patriot is here to help you every step of the way. We want to make your dream of building your very own custom home a reality.

What is a Construction Loan?

A construction loan is a first-mortgage loan that is divided into two phases: a 9 month construction phase followed by an end loan that would be chosen from our suite of conventional mortgage loan options, including a 30 or 15 year fixed mortgage.

Our construction loans also include these benefits:

  • Up to 95% loan to value financing*
  • Easy online application
  • Streamlined builder approval and draw process
  • Low interest rates and closing costs
  • Single settlement loan, unlike some other construction loans which require two settlements – one for each phase of the loan
Apply today
Home construction

How does a construction loan work?

Construction mortgage loans have multiple parts, besides the usual pre-approval and closing. Extra steps you need to know about include…


Builder Approval

All builders must be approved by Patriot. Construction loan builders must meet approval guidelines, a few are:

  • Current Unexpired License
  • Proof of Insurance (Liability and Workers Compensation Policies)
  • Builder must submit personal and corporate income taxes from the previous two calendar years and a Profit and Loss balance sheet
  • Personal and Business credit reports must show a satisfactory history of repaying creditors and suppliers

Draw (or Disbursement) Schedule

During the 9 month construction phase, the funds are dispersed in a draw schedule as work is completed. The draw schedule will look like this:

  • Land Acquisition draw
  • First Draw – Slab/foundation
  • Second Draw – Framing and rough carpentry
  • Third Draw – Roof and mechanicals
  • Fourth Draw – Exterior and interior finishes
  • Fifth Draw – Trim-Out
  • Final Draw – Project closeout

Meet our Team

Our mortgage consultants use local underwriting and an easy application process. Consult with a mortgage expert to find out more about construction loans.

Mike Stouffer headshot

Michael L. Stouffer

Mortgage Consultant
Amanda Fishel headshot

Amanda Fishel

Mortgage Originator

Have Questions? We Can Help.

Get in touch
Contact us
Contact a Mortgage Officer
Get started
Visit a branch
Find us nearby


  • NCUA

    This credit union is federally insured by the National Credit Union Administration.

  • Equal Housing Lender

    Equal Housing Lender