For dreams of all sizes
Construction lending with The Merrimack
When you partner with The Merrimack for your construction loan, building your dreams is a simple and inspiring experience. Tell us your plans and we’ll meet you with the expert knowledge you expect when you do something as important as building a home. Plus, we’ve added opportunities to help you break ground without hesitation!
Finance your construction with The Merrimack and enjoy:
Single Closing Loans – pay interest only on construction costs as they are drawn during the construction phase. Upon completion, your loan switches to a traditional principal and interest loan with the same competitive rate—saving you time and money. Plus, with our Construction Float Down Program, if rates drop after construction starts you can lock in a lower rate!
In-House Construction Management – enjoy less stress, with fewer delays and issues. Your Merrimack team provides on-site help with disbursements, appraisals, and more.
Experienced Construction Lending Team – get a knowledgeable local partner dedicated to you—after all, the lenders at The Merrimack are also your neighbors. Your lender will guide you every step of the way and focus on a smooth process and a high-quality outcome.
Build Now, Benefit Later
Our Construction Loan Float Down Program allows you the one-time opportunity to lower your rate if mortgage rates drop once construction is completed. No need to wait around for rates to improve. Start building your dreams today with peace of mind knowing we can help lower your rate tomorrow.
How it works:
If…
- Your home is completely finished
- All inspections and certifications are done
- You’ve made all payments on time
- The request is made within the first 6 months after permanent financing begins
- Current market rates are at least 0.125% lower than their existing rate
We’ll lower your construction loan rate!
Local guidance for every stage of your project
From first question to final inspection, Merrimack County Savings Bank is here to help you navigate construction loan or accessory dwelling unit financing with confidence.
- Review your goals – whether it is a whole new home, an in-law suite, a rental space, or a tranquil retreat; a construction loan can help.
- Talk through your budget, timeline and construction plans so your financing fits your project.
- Coordinate with your builder and keep you informed throughout construction.
- Help you understand the next steps, from permits and appraisals to converting into long-term home financing.
What is an ADU?
One property, many possibilities
An ADU can make it easier to bring generations together under one roof – without giving up privacy. Maybe you are welcoming an aging parent who wants to stay close to family, or a college graduate who needs a soft landing while they start a new job.
With thoughtful design and the right ADU financing, you can create a space that feels like home for the people you care about, while still fitting your long‑term plans. And if your needs change over time, an accessory dwelling unit can often adapt from family space to a home office or carefully managed rental.
At The Merrimack, we will listen, ask questions and help you decide whether an accessory dwelling unit loan is the right fit for your situation. Being good listeners. That’s MERRIMACK Style.
Have questions? Want to learn more about the process? Join us for one of our FREE construction and ADU loan seminars to get a comprehensive overview of the process and what to expect.
Let’s break ground as a team!
