Construction and Lot Loans
Building your dream home? We’re here to help.
Have questions? Call (608) 842-5000
Options designed to support your home building process.
Wings offers the choices, experience and support to help you finance or refinance your new home construction. Beyond the competitive rates and flexible terms of our construction and lot loans, we offer one of the most comprehensive suites of home-buying resources you'll find, including free homebuyer education, plus friendly Wings service for the life of your loan.
Please contact our loan officer team for construction and lot loan rates and more information.
Construction Loans
A construction loan1 allows payments to be made to the builder as work on your home progresses. Interest payments are made on the funds disbursed during construction.
Turn-Key Construction Loans
Get approved for a mortgage loan while under contract with your builder with a turn-key construction loan. This allows extra flexibility and peace of mind during the home building process.
Lot Loans
Start paying for land before construction starts with a lot loan2. Payments on a lot loan help you build equity that can be used towards a down payment when you’re ready to build.
¹Speak with a loan officer to learn more about construction loan rates, terms and conditions. Construction and Lot Loans are only available in MN and WI.
²Speak with a loan officer to learn more about lot loan rates, terms and conditions. Construction and Lot Loans are only available in MN and WI.
Construction Loan Rates
| Construction Loans | Rate As Low As1 | APR2 | Loan Amount | Monthly Payment4 |
|---|---|---|---|---|
| 12 Month Construction | 4.875% | 6.095% | $625,150 | $1,269.84 |
| 12 Month Jumbo Construction | 4.875% | 5.688% | $1,102,500 | $2,239.45 |
| 3/6 Month SOFR Construction ARM | 6.125% | 7.342% | $355,450 | $2,159.75 |
General Terms for all Loans:
1Rates are based on an evaluation of your credit history and other factors, so your rate may differ.
2The APR (Annual Percentage Rate) and monthly payment examples assume a 30% downpayment, a credit score of 780 or higher and $4,896.00 ($11,285.00 JUMBO) estimated borrower pre-paid finance charges. If the down payment is less than 20%, private mortgage insurance (PMI) may be required on the loan and could result in an increased APR and payment.
3Points are an amount paid to the mortgage lender at closing used to lower the interest rate. One point is equal to one percent of the loan amount (for example, 1 point on a $100,000 mortgage would equal $1,000).
4Monthly payment examples do not include any applicable taxes or insurance premiums. Actual payments could be higher.
5For first-time homebuyers only.
Origination Fee: $1,250 or 1% of loan amount, whichever is lower. Additional third-party closing costs will apply.
Additional Fixed Rate Terms:
The 30-year fixed rate mortgage product with 3% minimum down payment (97% LTV) available to first-time home buyers only.
Fixed rate mortgages may be subject to FNMA fees based on credit score, LTV and other factors which may apply.
Additional Adjustable-Rate Mortgage (ARM) Terms:
Adjustable-Rate Mortgage (ARM) rates are subject to change according to product terms.
ARM product with 10% down payment (90% LTV) with no PMI are subject to a rate/APR add on of 0.125%. Active checking account with ACH direct deposit(s) of $1,000 or more per month and 5 or more debit card transactions per month required. Available for ARM products up to $1,000,000.
ARM product with 3% minimum down payment (97% LTV) with no PMI are available to first-time home buyers only subject to a rate/APR add on of 0.25%.
3% minimum down payment (97% LTV) available to all homebuyers on ARM products but is subject to PMI.
Membership with a $5 Share Account required.
Rates effective as of July 1, 2025 and subject to change.
Lot Loan Rates
| Lot Loans | Rate As Low As1 | APR2 | Loan Amount | Monthly Payment4 |
|---|---|---|---|---|
| 3 Year Lot Balloon | 7.125% | 7.369% | $225,000 | $1,761.34 |
General Terms for all Loans:
1Rates are based on an evaluation of your credit history and other factors, so your rate may differ.
2The APR (Annual Percentage Rate) and monthly payment examples assume a 30% downpayment, a credit score of 780 or higher and $4,896.00 ($11,285.00 JUMBO) estimated borrower pre-paid finance charges. If the down payment is less than 20%, private mortgage insurance (PMI) may be required on the loan and could result in an increased APR and payment.
3Points are an amount paid to the mortgage lender at closing used to lower the interest rate. One point is equal to one percent of the loan amount (for example, 1 point on a $100,000 mortgage would equal $1,000).
4Monthly payment examples do not include any applicable taxes or insurance premiums. Actual payments could be higher.
5For first-time homebuyers only.
Origination Fee: $1,250 or 1% of loan amount, whichever is lower. Additional third-party closing costs will apply.
Additional Fixed Rate Terms:
The 30-year fixed rate mortgage product with 3% minimum down payment (97% LTV) available to first-time home buyers only.
Fixed rate mortgages may be subject to FNMA fees based on credit score, LTV and other factors which may apply.
Additional Adjustable-Rate Mortgage (ARM) Terms:
Adjustable-Rate Mortgage (ARM) rates are subject to change according to product terms.
ARM product with 10% down payment (90% LTV) with no PMI are subject to a rate/APR add on of 0.125%. Active checking account with ACH direct deposit(s) of $1,000 or more per month and 5 or more debit card transactions per month required. Available for ARM products up to $1,000,000.
ARM product with 3% minimum down payment (97% LTV) with no PMI are available to first-time home buyers only subject to a rate/APR add on of 0.25%.
3% minimum down payment (97% LTV) available to all homebuyers on ARM products but is subject to PMI.
Membership with a $5 Share Account required.
Rates effective as of July 1, 2025 and subject to change.
Meet Our Wisconsin-Based Team
Hannah Milbradt
Mortgage Loan Officer
NMLS# 1987061
Phone: (608) 842-5057
Ask me about Construction and Lot loans!
Apply Now
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