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Salem Five Bank — Providing full-service financial services including banking, mortgage lending, loans, insurance and investments.

Salem Five Home

Commercial Construction Loans

Construction worker at site holding blueprints and looking down at mobile device.

Financing Solutions for Local Homebuilders & Developers

Whether you're constructing a new property or renovating for resale or rental, Salem Five offers construction loans designed to support your vision. With competitive rates1 and flexible terms, we’ll work with you to create a financing plan that aligns with your business goals, so you can focus on building success.

We offer a variety of construction loan products to service:

  • Suburban tract developments, with infrastructure and road funding
  • Single-Family Teardowns and Rehabs
  • Ground-up and Renovations for Townhouse, Garden-Style, Detached, and Condex-style Condos
  • Urban Condo Conversions
  • Ground-Up Multi-Family or Apartment Renovations
  • Additional expertise in 40B developments, MBTA zoning, Merged Lots, Accessory Dwelling Units and Non-Profit/Affordable Housing

Get Started Today

Salem Five Construction Loan Benefits

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    Acquisition and construction funds are efficiently completed in a single closing to meet tight deadlines.
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    Lenders and decisions makers support housing with industry expertise and local insight, in MA, NH and Southern ME.
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    Builders have access to Salem Five’s experienced Mortgage and Insurance companies.
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    Insurance Agents provide builder’s risk, contractor liability, vacant dwelling, and general liability policies.
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    Mortgage products include end loans and construction-to-permanent financing for your prospective buyer.
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    Property inspections are completed by your lender directly, or our network of quick third-party inspectors. Advances are approved and processed by your lending team, not a back office.
Mark Palermo, Salem Five Construction Loan Officer
Mark Palermo
VP, Construction Loan Officer
Salem, MA
 

Construction Loan Officer

Contact Mark today to have a conversation about your Construction Lending needs.

Construction Loans: FAQs


  • Salem Five primarily lends in Massachusetts, New Hampshire, and Southern Maine. Our projects span a wide range of geographic regions, including:

    • Cape Cod
    • South Shore
    • Worcester County
    • Greater Boston
    • North Shore
    • Seacoast NH
    • Lakes Region, NH
    • Southern NH
    • Merrimack Valley

     

1 All offers of credit are subject to approval. Other mortgage options available. Other terms and conditions apply. Property insurance required. See tax advisor regarding deductibility of interest.