 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
 |
Construction Loan
Want to build a new home? Home construction requires a special type of loan -- Baybank can help!
A construction loan from Baybank can help alleviate some of the anxiety in building a new home. The amount of your payment during the term of the construction loan is directly related to the amount "drawn" during construction.
Pre-construction appraisals and costs estimates based on construction plans and property acquisition determines the amount of construction dollars to be financed. Upon completion of the home, the construction loan is converted to long term, mortgage financing.
We may also help with a "bridge" loan when you have not yet sold your old home.
