ButlerBank© - Building America one House at a Time

Phone: 888.285.7251

Fax: 978.442.1762

Construction-To-Perm


For Homeowners Seeking
Longer Term Financing

For homeowners seeking longer term financing, we offer a construction-to-permanent mortgage. We have fixed or adjustable rate loan programs for homes located in New Hampshire, Massachusetts and Maine.


This program has several important
advantages:

  • No Refinancing Necessary
    The loan automatically converts to a permanent loan, eliminating the need for refinancing and two loan closings.

  • Save Money
    Since there is no second closing, you don't have to pay points, legal fees, application fees, appraisal fees, etc., a second time.

  • Special Construction Rate
    Our construction to permanent rates are very competitive.

  • Interest Only Option
    We offer an interest only option for the borrower for the initial construction period.
  • Low Down Payments/"Sweat Equity Loans"
    At Butler Bank, we recognize that many credit worthy people may not qualify for one of our standard loan programs due to a limited down payment. That's why we offer a special "Sweat Equity" plan for borrowers building their own homes.*

  • Options
    We give you the option of being the general contractor on construction-to-perm loans.

  • Simplify
    We simplify the paperwork by paying contractors’ bills generally within 48 hours of receipt of invoice.

    • * To qualify, the borrower alone, or with the help of friends or associates, contribute their time, skills and efforts to building the home. The bank will advance funds to the borrower's vendors after the work has been completed.

     

    Butler Bank
    Lowell MA Andover MA Marlborough MA Kennebunk ME
    Phone:  888-285-7251  Fax: 978-442-1762

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