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At Saco & Biddeford Savings Institution, we realize that building a new home can be stressful! With our construction loan process, we're certain that you'll feel at ease.
To make your construction loan process as easy and affordable as possible, we offer:
- A detailed construction loan worksheet
- Quick local decision making and servicing of all loans.
- Great rates, no points, and low closing costs.
- Quality customer service that continues after you close your loan.
- One closing - no refinancing necessary - loan converts to permanent loan automatically, eliminating the need for two closings and additional fees.
- Up to nine months to complete the project - during the construction phase we only charge you interest on the funds you have used.
- Bank officers and consultants to review your plans, budget, contracts, and work closely with you monitoring all disbursements and subsequent lien waivers.
- Builder construction loans
- Construction to permanent loans
- Land acquisition loans
- Bridge loans / blanket loans
- Commercial construction
We look forward to helping you build your dream home the same way we have assisted so many others over the past 179 years!
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