Furnishing a new home or a new apartment can be stressful, especially if you don't have a plan. There are multiple factors to consider ...
Construction & Renovation Mortgages
Build or remodel your dream home
Whether you’re building a brand-new home—including modular construction—or restoring that fixer-upper, you’ll find a wide array of mortgage and loan options at Salem Five.
- We combine construction loans (usually 3-12 months) and mortgages as a single loan with one closing, saving money and time—the mortgage kicks in when construction is complete
- The federal 203K Renovation Loan program covers home improvement, repairs and fix up. Complete your renovations after closing by using a portion of the loan proceeds for improvement costs
- We offer a specialized loan program for the construction of modular homes
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Other Articles of Interest
When purchasing a standard mortgage from a private lender, you may be required to purchase private mortgage insurance (PMI). However, PMI can be costly, usually charging you ...
If you own a home, the mortgage payments you make each month could help you build a substantial asset - home equity. The home equity you build represents how much ...
Haga clic aquí si desea consultar con alguien en Espanol acerca de opciones de Hipoteca.
Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.