Construction Loan
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Construction-to-Permanent Mortgages
Interested in buying land and building your dream home? The construction-to-permanent mortgage allows you to to do it with maximum convenience. During the construction period (typically 12 months or less), the Bank works with you to advance construction funds to the builder or contractor. You pay interest only on the amount drawn. When the home is complete, the loan automatically converts to a conventional home mortgage with monthly payments of principal, interest, and real estate taxes. Because you only have one loan closing you save time and money. See our testimonials to find out just how easy it is. This program is also available on modular homes.
Click here to download a Loan Application.
Construction Loans
Provide capital for the renovation or construction of residential or commercial-use properties.
Click here to download a Commercial Loan Application.
Builder-to-Buyer Financing
Not only can Needham Bank’s financing help you build your next project, we can help you sell it by offering your potential buyers special financing options, such as:
• Lower mortgage rates
• Fast track financing
• The security of knowing Needham Bank will service their loan for its entire term.
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