One Closing

With Kennebunk Savings, you can easily move the funding for the purchase for the land, construction, and permanent framework into one simple deal.

Our construction loan enables you to lock into a fixed rate of interest also before you break ground! Plus, we provide interest-only payments through the initial stage of construction which will help you handle the expenses of alternate housing.

Begin to see the Advantages

  • Single loan closing at the start of construction will save you time and money
  • Finance up to 90% regarding the value of much of your residence
  • Gifted land can be utilized as equity
  • Interest-only re payment choices designed for 6, 9, or year
  • Major re payments start following the phase that is interest-only

Construction FAQs

just just What do i must begin the mortgage procedure?

You will require a contract with a builder that is licensed plans, requirements, spending plan, along with your economic packet. A little easier, we’ve put together a checklist of financial documents you will need to prepare for the loan process to make things. See our Mortgage Application Checklist.

could i be my own specialist?

Yes. You can end up being your very own specialist. To take action, you need to demonstrate past expertise in building a property or work with a associated trade that could help your capability to effectively finish the task.

just how much of the payment that is down we required to have?

We might accept a advance payment only 10%, dependant on how big the mortgage along with your individual situation. It’s important to talk about the specifics of assembling your shed having a loan provider to comprehend the choices open to you. (more…)

We now are working with Adesto Technology