Dream from the ground up
Turn your vision into reality with a WaFd Bank construction loan.

Construction Loans & Financings

Benefits of working with WaFd Bank
We keep your loan and don't sell it to Wall Street or Fannie Mae.
Our experts are standing by to help you with every step.
We are not paid on commission, so your needs come first.

Your neighborhood loan officer can help you get started

Save Up to $600 on Closing Costs With a Checking Account From WaFd Bank*

Construction Roadmap


Set Objectives
Meet with your architect or builder to plan your dream home.

Project Planning
Set your budget, determine the scope of work, and establish a timeline for completion.

DIY or Contractor?
Doing it yourself or working with a builder? We can work with you either way. Our custom construction experts at your local WaFd Bank branch will walk you through the process of completing your project.

Begin Construction
Our custom construction experts work with you to manage payouts to your builder each month as construction progresses from beginning to end.

Frequently Asked Questions

Is building a house more expensive than buying one?

This is a tricky question, but in general, yes, it is cheaper to buy a house than purchase land and build one from scratch.

Caveat: costs can vary greatly depending on factors like a buyer’s flexibility with location, renovations they’d like to make on a pre-built house, and how long the buyer’s planning on staying in either home.

Does building a house give a lesser return on investment than buying a house?

Not always. There are many aspects to consider when building a home, such as how “standard” or “unique” the features and layout are, how long you’re planning to live in the house, and whether or not there are “green” rebates available in your area.

In general, expensive features or structures that make your home and property more “niche” can limit the number of prospective buyers when it comes time to resell, which can result in needing to lower your future asking price.

If you plan to live in the home for many years, property value appreciation can offset the uniqueness. If you “build green”, the cost of owning an energy efficient home is often much lower. Plus, some states offer rebates or tax incentives for environmentally friendly features, like solar panels.

Will I always save money if I do most of the work myself?

No. This line of thinking can be dangerous to your body, mind AND wallet. If you have time to allot to the many aspects of building a home, and you’re familiar with construction work, then by all means – pick up a hammer. But remember – time is money. Unfortunately, the more a job costs a professional to do, the more of your time it’s likely to take. Before you start tackling any aspect of building a home, put in the research.

If you’re unsure as to whether you can tackle a project, opt for the professional route. In general, you’ll spend more money hiring someone to fix damage done by DIY-ing than you would have spent if you had paid someone from the start. Another bonus of hiring an experienced contractor is that they often provide warranties on the products and work they complete, either personally or through subcontractors, covering you in the event that repairs or reinstallation is needed.


* To qualify for the maximum $600 discount, before closing documents are prepared you must (1) have or open the WaFd checking account, (2) register for EZ-Pay from the new checking account, and (3) sign up for direct deposit of at least one form of a monthly recurring source of income.