Explore Land and Construction Loans with Skowhegan Savings
Whether you're looking to build your dream home or just need some acreage, we've got you covered.
Apply for a land loan, today!
Have you spent months on end house hunting in Maine with no luck? Or maybe you're looking for acreage to enjoy the outdoors. When you’re ready, our team of Maine lenders are here to work with you every step of the way.
A loan for every project
If you're ready to build your home within the next two years, then this is the loan to make that happen.
This product is perfect for someone looking to purchase land to hunt, fish, or just enjoy all that Maine outdoors has to offer.
With our unique single close construction loans you'll be able to build your version of a "dream home".
A Skowhegan Savings Bank approved General Contractor is required to oversee and manage the project as budgeted in your contract (containing State of Maine requirements). The budget must include a contingency for cost overruns.
Work with your Community Banker to find out what your project options are.
During the 12 month construction period, you will only be required to pay interest on the amount that you’ve drawn to date for your project. This leaves more money in your pocket during construction.
When your home is complete, it's easy to keep your mortgage loan with us.
Want to learn more about your options to build your dream home? Contact us and one of our local construction loan experts will be happy to answer all of your questions!
"Angel works very hard to get you the best financing available. She is very professional & truly cares about her clients. She is a pleasure to work with & she is the reason I do business with Skowhegan Savings Bank!"
– Teresa, Corinth, ME
*Subject to credit and private mortgage insurance (PMI) approval