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You have the perfect lot, and you've researched the best layout for your home. Now it's time to get financing for your new home construction. Before you start excavating, it's a good idea to understand every step of the construction financing process, and calculate your monthly mortgage payment.

With an all-in-one construction loan, North Shore Bank makes financing your new home easy while saving you money with just one application, one closing, and one loan. Our team of Mortgage Loan Officers can help you step into the home of your dreams.

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Understanding New Home Construction Finance

So, you think you want to build a new home or wondering if you can? The first thing you should remember is that it takes the same criteria to build as it does to purchase – Income, Assets, Credit and, of course, a home. It all has to fit together.

Watch the video to learn more.
Home Construction Step-by-Step presented by North Shore Bank. Member FDIC | Equal Housing Lender.

Mortgage Loans for New Home Construction

Adjustable Rate Mortgage (ARM) -  Adjustable Rate Mortgages offer the flexibility needed to work with the construction process. The initial rate on these loans can be fixed for as long as five years at desirable rates. The ARM loan allows for an option to adjust the mortgage amount to reflect the amount needed for construction.

​The best part of a North Shore Bank construction loan is you don't have to refinance at the end of construction. If you do choose to refinance, however, we have great options to meet your needs.

Getting Started is Easy

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Frequently Asked Questions