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You're building your own home and want a flexible mortgage loan that easily converts to a conventional mortgage without having a second closing.
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| What it offers: |
- Choose from available fixed and adjustable rate construction loan programs
- For added flexibility you can make interest only payments during your
construction period of up to 9 months
- To avoid a second closing and to save you money, your loan automatically converts after construction to principal and interest payments for the program initially selected
- Various point options available to lower your interest rate
- Up to 90% financing so you'll have more for funds available for furnishing and decorating your home
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| Property Type: |
Owner occupied 1-4 family located in Massachusetts or New Hampshire |
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If you would like to apply for a construction mortgage or if have any questions about
East Boston Savings Bank's residential loans or services, please contact our Call Center
at (800) 657-3272, or click "Contact Us" to e:mail our Residential
Lending Division.
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Equal Housing Lender.