Let Revere Bank help you finance the construction of your primary residence or vacation home
- Finance up to 80% of the “as complete” appraised value of the home to be built.
(LTV could be lower if value exceeds $1,000,000.)
- Construction term of up to 12 months.
- Financing up to 75% of the cost or appraised value of the residential lot (whichever is less).
Loan offer valid for residential properties located in Revere Bank’s market area. A commitment for a residential mortgage—to pay off the construction loan upon completion— is a requirement for this loan. Construction loan advances will be subject to a draw schedule. Inspection of completed work will be conducted by an inspector prior to each loan advance. Loan is subject to our underwriting criteria; all other usual terms and conditions apply.