Whether you’re building or renovating, you can leverage our expertise in the construction industry to safely turn your vision into reality.

A Construction-to-Permanent Mortgage saves you time and money, because you'll have only one loan application and closing.

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Benefits & Features

One Closing and Loan Process

Most other banks would require two separate processes, but we wanted to make your life easier. During the construction period, you’ll only pay interest on funds drawn. When your home is complete, the loan automatically converts into a conventional mortgage.

Your Choice of Products 

Choose from Fixed or ARM products. Your dedicated lender will make sure the loan is right for you and will fully cover all your needs.

No Maximum Loan Amounts

No matter how big your project is, we can help you cover it. Construction funds must be a minimum of $100,000.

Construction-to-Permanent Mortgage Highlights

  • Competitive Interest Rates
  • No maximum loan amounts
  • Full Build or Renovations
  • NB will finance up to 85% of acquisition or as-is value and 100% of construction hard costs
  • Maximum 80% Loan-to-Value at completion
  • One closing within 4-6 weeks

Serving Our Clients

Building Your Dream Home with a Construction Loan

Thinking about building a new house or renovating an existing home? Learn about construction loans from Needham Bank and get closer to your dream home.

Learn more about Building Your Dream Home with a Construction Loan


What is a construction to permanent loan?

A construction to permanent loan is a residential mortgage loan that combines the construction phase with a fully amortized mortgage so that you only have to attend one closing.

How do I apply for a construction to permanent loan?

To apply for a construction to permanent loan, please contact one of our team members.

What are my construction to permanent loan options?

You may choose either a 5/1 ARM, 15 or 30 year fixed rate loan..

Knowledge Center

Which Mortgage is Right for You?

If you're planning to buy a home in MA, spend time understanding your home loan options. Let Needham Bank help you decide which mortgage is right for you.

Learn more about Which Mortgage is Right for You?

Building or renovating? Our unique construction-to-permanent programs are designed to help builders like you turn that project into reality.

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