Construction Loans

If house hunting is leaving you feeling less than inspired, it might be time to inspire yourself with a construction loan from Newton Federal Bank. Why search for the perfect home when you can build it from scratch to ensure it's exactly what you want.

We offer affordable rates, and payments are interest-only during the construction phase of your new home. So you can focus on your project while we take care of the rest!

Details
  • Competitively low rates for your home construction project
  • Available for primary residence or second home construction
  • Provides more convenience, especially toward the end of the construction phase and the beginning of permanent mortgage
  • Pay off interest quicker; payments are interest-only during construction phase
  • Payments are made on the amount drawn on your loan sufficient to pay your builder
  • Construction draws applied in stages based on work completed