Scituate Federal Savings Bank offers a single-closing construction-permanent mortgage loan for new construction, as well as for renovation and rehabilitation purposes on 1- to 4-family dwellings, primary residence and single-family dwellings for second (vacation) homes. Both our fixed-rate and our adjustable-rate programs (conforming and jumbo loan amounts) are available. The loan begins with either a 6-month or 12-month interest-only construction period followed by an automatic conversion to the fully amortizing loan in the 7^th or 13^th month (respectively). Interest-only payments during the construction period are based on the portion of the loan that is advanced.

Please contact one of our Loan Officers for additional information. They would be more than happy to answer any questions you may have regarding this program or to schedule an appointment at a time and place convenient for you.