Our Construction/Renovation mortgage* is used to finance a new home construction or the renovation of an existing home. If you’re looking to build a new home or renovate an existing one, Southern Mass Credit Union will make the process easy and efficient.
We can help you build your dream home.
Construction loans are available to construct a home on your land or combine a lot purchase with construction.
One time closing with interest paid and funds advanced incrementally during the construction period. First 10% disbursed at closing.
Fixed Rate Mortgage and Adjustable Rate Mortgage products available.
Up to 95% financing available.
1-4 Unit construction/renovation available on primary and second home occupancy.
Private Mortgage Insurance required for mortgage loans over 80% Loan-to-value.
Let’s work together to find the right mortgage solution for you.
*Subject to credit approval.