Construction Loans

Annual Percentage Rate (APR) shown is the lowest rate offered, including discounts and based on credit score. Rates are subject to change without notice.

Fixed rates include 0.375% discount either having a checking account with direct deposit or signing a direct deposit notice of intent.  Failure to maintain the direct deposit after loan closing will not affect the discount applied and rate is not subject to change after rate is locked. 

The Fixed 30 Year Construction loan term begins with a 12 month interest only construction period followed by a fully amortized re-payment period for the remaining 348 months.

Construction loans are only available if home is being built in New Hampshire or Maine. 

A payment example for a Construction Mortgage Loan with $100,000 loan amount and 6.250% interest rate and annual percentage rate of 6.863% will have a monthly principal and interest payment of $623.02.

The APR in the payment example was effective on April 20, 2023. The current APR may be different than the APR used in the payment example.