Explore Construction Loans with Sentinel Federal Credit Union
At Sentinel, we know building your dream home starts with a solid plan and the right financing. Whether you’re breaking ground soon or still finalizing design choices, our Construction Loans make it simple and affordable to bring your dream home to life. Flexible rates, customizable terms, and local decisions— we’re with you every step of the way.
Here are a few key points about our construction financing:
- Competitive Local Rates
- Custom Terms to Fit Your Project
- Step-by-Step Guidance Through Each Phase
- Federally Insured
- Convenient Disbursement Options
Why Choose Sentinel Federal Credit Union For Your Construction Loan?
Quality financing crafted in the Black Hills
Whether you’re building a custom home, remodeling an existing structure, or managing a phased construction, our lending team brings local expertise and personal service. We understand construction timelines, contractor relationships, and flexible draw schedules—and are committed to supporting your project from start to finish with real, local insight.
Pre-Approval Before You Build
We encourage getting pre-qualified before construction begins. Having pre-approval lets you:
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Budget confidently based on accurate financing potential
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Select contractors and materials with clarity
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Proceed with peace of mind, and zero credit impact during prequalification
Partner With Us at Closing & Construction Phase
We coordinate directly with your builder, architect, or closing agent to ensure timely draw releases and streamlined construction financing. Whether you’re already a member or new to Sentinel, we’ll help secure approval and manage disbursements so you can focus on your build.
Protect Your Investment and Your Finances
It’s more than building a house—it’s creating your home.
Payment Protection Plans
Optional coverage that may help with loan payments during hardship such as disability, involuntary unemployment, or death.
Builder’s Risk Insurance Support
We help connect you with local providers familiar with South Dakota construction and liability needs.
Credit Life and Disability Insurance
Available for eligible borrowers to protect your loan in unforeseen circumstances.
Construction Loan FAQs
What types of projects can I finance with Sentinel’s Construction Loans?
You can finance new custom builds, major remodels, or rebuilds on existing foundations.
What are the minimum requirements to apply?
U.S. citizenship or permanent residency, acceptable credit history, income verification, project budget, construction plans, and contractor details.
Can I get pre-approved for a construction loan?
Absolutely — and we highly recommend it for better planning and stronger negotiations with contractors.
What documentation is required?
Expect to provide detailed construction plans, a contractor agreement or builder’s estimate, income/tax documents, and credit information.
Are there any fees?
Standard origination, draw fees (if applicable), and closing costs apply. We’ll clearly outline all fees upfront.
Can I convert to a permanent mortgage when construction ends?
Yes — we offer conversion options to simplify your financing transition from construction to permanent mortgage when your home is ready.