Down Payment Assistance Programs
For those at the low-to-moderate-income level, the most substantial barrier to homeownership are the closing costs and a down payment associated with ...
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
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 ...
How Home Construction Loans Work
Home construction loans provide families and individuals with the ability to finance new home construction projects ...
Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.