Whether you’re building or renovating, you can leverage our expertise in the construction industry to safely turn your vision into reality.

A Construction-to-Permanent Mortgage saves you time and money, because you'll have only one loan application and closing.

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Benefits & Features

One Closing and Loan Process

Most other banks would require two separate processes, but we wanted to make your life easier. During the construction period, you’ll only pay interest on funds drawn. When your home is complete, the loan automatically converts into a conventional mortgage.

Your Choice of Products 

Choose from Fixed or ARM products. Your dedicated lender will make sure the loan is right for you and will fully cover all your needs.

No Maximum Loan Amounts

No matter how big your project is, we can help you cover it. Construction funds must be a minimum of $100,000.

Construction-to-Permanent Mortgage Highlights

  • Competitive Interest Rates
  • No maximum loan amounts
  • Full Build or Renovations
  • NB will finance up to 85% of acquisition or as-is value and 100% of construction hard costs
  • Maximum 80% Loan-to-Value at completion
  • One closing within 4-6 weeks

Serving Our Clients

Building Your Dream Home with a Construction Loan

Thinking about building a new house or renovating an existing home? Learn about construction loans from Needham Bank and get closer to your dream home.

Learn more about Building Your Dream Home with a Construction Loan


Why did my mortgage payment amount change?

Payment changes result from an adjustment to your interest rate or your escrow payment. Our Loan Operations Department will assist you in providing answers to all your questions. Please contact us by calling (781)474-5802 or by email at [email protected]

What’s the fastest way to pay my NB mortgage from my NB Checking Account?

The easiest way to pay your NB mortgage from your NB Checking Account is through NB Online Banking or NB Business Online Banking by completing a transfer from your checking account to your mortgage.

Can I pay my mortgage from another account?

Yes, you may complete an ACH Agreement in order to do so. Call our Loan Servicing Department at (781) 474-5802 or complete the Authorization Form. Please forward the form to the Loan Operations Department via US Mail or email us at [email protected]

Knowledge Center

Which Mortgage is Right for You?

If you're planning to buy a home in MA, spend time understanding your home loan options. Let Needham Bank help you decide which mortgage is right for you.

Learn more about Which Mortgage is Right for You?

Building or renovating? Our unique construction-to-permanent programs are designed to help builders like you turn that project into reality.

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