Residential Construction Lending
We at The Washington Savings Bank pride ourselves on our creative loan products, and we are especially proud of our construction loans.
Why? Because The Washington Savings Bank has the flexibility to create the perfect construction loan.
We offer up to 100% financing of "cost". This means that we take the purchase price of the land, plus the contract of sale to build from your builder and add them together. Then we have an appraisal completed based on the "finished" value of your land and new home. We know that your finished product will appraise higher than actual cost, thus we are able to lend up to 100% of the actual cost.
Our product also allows for a "One Time Close", saving you more money.
Please contact one of our mortgage financing specialists to create the loan that works best for your situation.