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Construction Basics

Find a Better Way to Finance your Construction Plans

 Here at Westfield Bank, better banking is about making your construction financing process clear, easy to comprehend, and unique to you. Our residential lending experts will review your planned project, explain your options, and work with you to craft the best possible solution.

How it works

Construction-to-permanent financing provides:

  •  A single loan qualification and one closing, saving you time and money
  • A locked-in permanent mortgage interest rate up to 12 months in advance with no fee
  • Up to 12 months for your home construction, during which time you make interest-only payments on funds already disbursed
  • Options including a fixed-rate or adjustable-rate mortgage (ARM)
  • The ability to customize your financing based on whether you already own the lot where you’re building, whether you’re building a primary residence or second home, and if you’re renovating an existing home

 

 

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141 Elm Street, Westfield, MA 01085
(413)568-1911
NMLS 439933
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