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Financial Growth
Have You Thought About Building?
Constructing a Home Might Be the Creative Solution You Need
Apr. 01, 2025
With rising home prices, tight inventory and interest rates that have yet to drop significantly, many people assume their dreams of homeownership will just have to wait. But what if building a home might be the perfect solution to turn those dreams into reality?
Whether you’re looking to downsize, just getting started on your home search, or you simply want to maximize your budget, constructing a home might be the creative solution you need to make that move happen.
Why Build?
Despite rising construction costs, building a home offers advantages that buying an existing home might not be able to match. From the ability to customize your home, and your budget, the best option might not be buying—it might be building. Let’s explore some of the top reasons it might me the right choice for your family…
Customization
One of the biggest frustrations of house hunting is compromising on your wants. Whether it’s location, layout or features, it seems that it’s almost impossible to get everything you want. When it comes to building, you get to make all the choices, from the floor plan to the floor tiles, ensuring your home truly fits your lifestyle.
If you’re concerned about the costs of building – going smaller can help you customize your budget as well! A smaller home means less square footage, which means fewer materials, less labor costs and a more affordable project overall!
Efficiency
Newer construction homes are built to be more energy efficient. Improved building codes, standards and materials ensure that newer homes maximize energy efficiency. With additional options like solar panels, high-efficiency HVAC systems, smart home technology, and more, your home can also be designed with long-term savings in mind.
Competitive Financing Options
Many people assume that building a home means a more complicated lending process, but there are many construction loan options available, making building more accessible than ever!
- Single-Close Construction Loan – This type of construction loan allows you to close just once, instead of having to get a new loan after the construction period is over. Not having to close on a loan twice helps save you money by locking in a rate earlier, and by potentially having fewer associated fees. A single-close loan also means you may have less paperwork and complication to deal with overall.
PNWFCU’s Single-Close Construction Loan offers interest-only payments during construction and allow for a rate reduction if rates do go lower!
- Manufactured Home Loan – This type of loan can be an affordable way to build a home! Purchase land and build a manufactured home with potentially lower fees and interest-only payments during construction.
PNWFCU’s Manufactured Home Construction Loan allows for funds to be used towards the costs of the manufactured home, land or construction (including transportation cost, site preparation, utilities, site improvements, home install at site) and converts to a 30-year final loan once construction is complete – no refinance is required!
- Land Loan – Not quite ready to build yet, but found the perfect location for your future dream home? A land loan can help. This type of loan allows you to purchase undeveloped land or property for future building purposes.
PNWFCU’s Land Loan is available for purchase or refinance for amounts of up to $250,000!
Creative Solutions
Sometimes thinking outside of the homebuyer box and looking at other options–like building a home rather than buying–might be just the solution you need to make your dream-home a reality. As Your Financial Partner for Life, PNWFCU is committed to helping you reach your goals and has a variety of financial products and services that can help take you to the next level. Let’s chat about your situation and see how we can help!
Our Mortgage Sales Manager, Michael Bradshaw, is here to help answer all of your construction loan and mortgage questions:

Michael Bradshaw
Mortgage Sales Manager
503.258.2618 | Toll Free 800.444.5858, ext. 2618
[email protected] | NMLS #192893
See what Michael’s members are saying about him online.
Equal Housing Lender. NMLS #: 421709