New Construction Loans

We'll help you build it

RBFCU offers one-time close construction loans with flexible terms, designed to help you finance the building of your new home.

These loans offer a short-term, fixed-rate construction period which converts to a permanent fixed-rate mortgage upon completion of construction. During the application process, RBFCU will require the borrower to provide a construction contract and schedule along with detailed plans/specs and a proposed budget for the construction project.

During construction, the borrower will make interest-only payments on a schedule that follows stages of the home's construction progress. When construction has been completed, the construction loan can be rolled over into a permanent fixed-rate mortgage loan. When you are ready to make the vision of your new home a reality, let our experienced mortgage team help you reach your goal.

To speak to the Mortgage Department, call 210-945-3300, select option 3, then option 2.

One-Time Close Construction - 30 year
One-Time Close Construction - 20 year
One-Time Close Construction - 15 year
One-Time Close Construction - 10 year

Let us walk you through the construction loan process

1. Get prepared

Building a home is a big commitment and you’ll want your finances to be in good condition before you start the process to ensure the best possible outcome. Gather your financial information, like recent tax returns, financial statements and pay stubs; your loan application will let you know what financial information is necessary. You should also review your credit score, take a look at your debt-to-income ratio and take other important steps to position yourself for receiving the best possible loan terms.

Click the button below to read our document on “Maintaining Your Financial Status and Credit Score” for tips to help guide you through the process.

2. Decide what you can afford

Before you begin shopping for a builder, take a look at your budget and current expenses to determine what you can afford. You’ll want to evaluate your monthly incoming and outgoing funds to see where a down payment, closing costs and your new mortgage payment might fit in.

3. Get preapproved

Once you know how much home you can afford, complete the application for a preapproval letter. The preapproval will let builders know that you are a qualified buyer who is prepared to build a home.

4. Find a builder

Now it’s time to find a builder to construct your new home. Make sure and do your due diligence in researching to find the right builder for you. Your builder will need to be approved for the construction program with RBFCU. Ask your loan officer to find out if a builder is approved or for a builder application package which will detail what is required of the builder to become approved for the program.

5. Complete paperwork

You’ll complete the application process you started with your preapproval by submitting your documents and continuing through the loan process. This may sound simple, but it can be a big undertaking, depending on your employment status, residency, etc.

6. Finalize your loan

Our mortgage team will help you through each step of the loan process and make sure you know everything you need to know to close your loan with confidence.


  • How much home can I afford?
  • How much should I put down for a new home?
  • How much will my mortgage payments be?
  • Which is better for me: A 15-year or 30-year mortgage loan term?
  • Should I pay points to lower my mortgage loan rate?


Still have mortgage questions?

Loans subject to credit approval. Rates and terms subject to change without notice. RBFCU mortgage loans are available only on property in Texas. Origination fee program not available for short term loans, FHA or VA loans. NMLS# 583215