Home Construction Loans

couple with new home

Ready to Build Your Dream Home?

An SBW Home Construction Loan is a convenient one-stop loan option. 

At Savings Bank of Walpole, we offer creative and flexible financial solutions to meet a variety of real estate needs, including our Home Construction Loan. And these days, given the low inventory of houses on the market, a Home Construction Loan can be a great option if you want to build a home versus purchasing an existing home. 

The process of financing the construction of a new home has two phases – construction and mortgage. But with our Home Construction Loan, you can secure a loan for the construction phase that then “flips” to a traditional mortgage when construction is complete — all with one convenient closing.
Some key benefits of our Home Construction Loan include:

  • One convenient closing for both construction and mortgage — you only need to qualify for one loan, one time
  • Interest-only payments while the house is being built during the established construction phase.
  • When the construction phase is complete, the outstanding loan balance “flips” to a traditional principal and interest loan, locked in at the same rate     and terms that were in place when your loan originally closed.
  • Local loan decisions and loan servicing. 

What’s more, the SBW lending team has decades of experience and a wealth of knowledge about the construction financing process and all facets of construction financing. That’s the SBW Local Advantage.™!  

To learn more, give us a call at (603) 352-1822. We’ve also created a helpful brochure that provides more details and takes you through the construction financing process – you can download it HERE.