Construction to Permanent Loans
Newtown Savings Bank is one of a few lenders in Connecticut that still offer a construction to permanent loan program and is one of the top construction loan lenders in the state. This unique program features just one closing that combines construction financing and permanent financing into one loan. Lock in a rate prior to closing that will hold for both the construction period and for the conventional loan (adjustable rates loans for initial period).
- Flexible draw schedules
- Interest only payments on amount dispersed
- Available for on-site home construction and modular homes
- Terms up to 30 years on either fixed or adjustable rate mortgages
- Decisions made on all loans locally here in Connecticut
Speak with a helpful Mortgage Banker today.