Merrimack County Savings Bank (The Merrimack) announces the addition of float down feature for home construction loans, offering customers greater flexibility and potential savings. This new option may allow for a one-time interest rate reduction if rates decrease during the construction period, giving customers peace of mind in a fluctuating market.
“Offering the float down option addresses a main concern every homebuyer faces,” said Jaime Frederes, SVP Residential Mortgage Lending at The Merrimack. “It’s a practical solution that helps manage expenses by benefiting from positive market shifts.”
Interest rates can shift unexpectedly, which makes it essential for homebuyers to weigh the cost of a float down option. This careful evaluation helps homebuyers make an informed decision, balancing immediate expenses with long‑term benefits. To learn more about the benefits of The Merrimack’s Construction Loan program, visit themerrimack.com.
The Merrimack’s float down option is subject to credit approval and program requirements. Restrictions may apply. Merrimack County Savings Bank NMLS #433938, Equal Housing Lender.