Down Payment Strategies for First-Time Home Buyers
The idea of buying a first home is exciting. Coming up with a sizeable down payment, however, can feel like an insurmountable task. That is especially true ...
Construction & Renovation Mortgages
Build or remodel your dream home
Whether you’re building a brand-new home—including modular construction—or restoring that fixer-upper, you’ll find a wide array of mortgage and loan options at Salem Five.
- We combine construction loans (usually 3-12 months) and mortgages as a single loan with one closing, saving money and time—the mortgage kicks in when construction is complete
- The federal 203K Renovation Loan program covers home improvement, repairs and fix up. Complete your renovations after closing by using a portion of the loan proceeds for improvement costs
- We offer a specialized loan program for the construction of modular homes
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Other Articles of Interest
How Home Construction Loans Work
Home construction loans provide families and individuals with the ability to finance new home construction projects ...
15-Year vs 30-Year Mortgages
What makes more sense financially for you, a 15-year fixed-rate mortgage or a 30-year fixed-rate mortgage? ...
Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.