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Build your dream Home from the ground up.

Build or remodel with the construction loan you need to live where you want, how you want.

#1 Mortgage Lender in Dane County

Here's why so many people talk to the #1 mortgage lender in Dane County. 


Construction & Land Loans

Dream home here you come! Construction loans give you the funds to pay the builder during construction, then switch to a regular mortgage when construction is complete. And to keep things simple, there’s only one loan closing, for both the construction loan and your mortgage.

  • Interest-only payments on funds paid to builder (for up to nine months, during construction)
  • Loan serviced locally by Summit
  • Jumbo loans accepted
Construction Permanent Loans begin with what’s called a draw period. During this period, funds are drawn down, or released, at various milestones in the construction process. At each milestone, we disburse a portion of loan funds based on property inspection and percentage of construction completed. Interest-only payments are required during this draw period.
Once construction is complete and we have received final inspection documents and certificate of occupancy, the construction loan transitions into the permanent mortgage loan. The loan term officially begins, with standard mortgage payments based on the permanent loan interest rate. This rate is determined during your initial loan application and will be one of our 3/1, 5/1, 7/1 or 10/1 Adjustable Rate Mortgage (ARM) Programs. At any time after construction is complete, you may also apply for one of our fixed-rate mortgage loan programs.

Construction Permanent Loans require more than the standard underwriting, documentation, and lender review, including review and approval of the builder.

Some examples include:

  • Plans and specifications
  • Material specifications
  • Construction contract
  • Construction cost breakdown

Please contact our mortgage loan department for a construction loan checklist listing required documentation. Summit Credit Union members may apply and receive online approval for our construction loan programs.

Lot Loans

Got your eye on a wooded acre or a corner lot? A lot loan offers a competitive adjustable rate term. Use the funds to buy land for your new home or recreational use.


Connect With A Mortgage Loan officer
Featured Mortgage Rates
Rates Effective August 17, 2018
Type and Term Rate Annual Percentage Rate

30 Year Fixed

4.63% 4.70%

15 Year Fixed

4.00% 4.13%

7/1 ARM**

3.88% 4.75%


Frequently Asked Questions