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.