Home Construction Loans in NH
If you can’t find your dream home in NH, we’re here to help with financing, so you can build it instead!
Our single-close construction loan program allows you to:
- Build a single-family, primary or second home
- Finance the purchase of land or use the equity in your land toward the 20% down payment
- Close only once, not a second time upon completion, to lower your total closing costs
- Pay interest-only during construction for up to 12 months
- Lock in your fixed interest rate before construction begins
Here are the top 10 reasons why our ONE-Close Construction Loan program is so attractive to those looking to build a home:
- ONE fixed rate. Locked upfront before groundbreaking. Eliminate interest rate risk.
- ONE loan application. No need for updated documentation (pay stubs, bank statements, credit pulls.)
- ONE closing. No need for a second closing after the house is complete. Save time, save money!
- ONE mortgage. It covers both the construction term (12 months) and the remaining 29 years.
- ONE payment. You pay interest-only monthly during the initial 12 months of mortgage.
- ONE modification form. To be signed after completion to amortize the loan over the remaining 29 year term (or 14 if you choose the 15-year option.)
- ONE program. Available for both primary residences and second homes.
- ONE option. For both conforming and jumbo mortgages. Maximum loan limit $2M.
- ONE draw schedule. With up to eight draws during construction. Draws must be approved by BOTH borrower and builder.
- ONE approval. Means no surprises once you close. The loan is CLOSED. You can sleep with ease knowing that your financing is in place and locked down. No need to provide updated tax returns, pay-stubs, etc.
Documents needed to apply:
- Copy of house plans and specifications.
- An agreement for the land purchase, if you don’t already own it.
- An agreement for the construction of your new home.
- Two years of W-2s and tax returns.
You must build a year-round home (a four-season home not a three-season camp.) Borrowers will be required to open a HarborOne Checking account at application. The initial 12-month interest-only payments do not include the required taxes and insurance which are collected each month from day one. At the end of the 12-month period, payment will increase to the fully amortized payment amount for the remainder of the loan term.
If you are interested in residential construction financing please contact Charley at (603) 471-9300 or via email to get started with rates and information.
Your information will be kept completely private.