
You’ve got land? We’ve got a loan
Are you already dreaming of the fun stuff that comes with that piece of land you saw – the kitchen counters, the bay windows, a cozy fireplace? With a Kennebunk Savings construction loan, you can roll the financing to purchase the land, construct a home and finance the permanent structure mortgage and keep looking ahead. Lock in a fixed interest rate even before you break ground, and enjoy interest-only payments during the initial phase of construction to easily manage expenses, like the costs of alternative housing while you build
Here are a few of the benefits
- Single loan closing at the beginning of construction can save you money and time
- Finance up to 90% of the value of your primary residence
- Gifted land can be used as equity
- Interest-only payment options available for 6, 9, or 12 months
- Principal payments begin after the interest-only phase
Construction FAQS
What do I need to start the loan process?
May I be my own contractor?
How much of a down payment am I required to have?
What is the maximum loan amount?
Can the land I already own be used as a down payment?
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