Newtown Savings Bank is one of a few lenders that still offer a construction to permanent loan program. This unique program features just one closing that combines construction financing and permanent financing into one loan. Finance up to 100% of the cost of construction. 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).
Construction loans can be used to purchase land as well as rehabilitation of existing structures.
• Flexible draw schedules
• Interest only payments on amount dispersed
• Available for on-site construction and modular homes
• Terms up to 30 years on either fixed or adjustable rate mortgages
• Mortgage Bankers have extended hours to help with questions and the application process
• Decisions made locally
View upcoming mortgage events taking place at a branch near you.