Getting the Lowest Mortgage Rate
In the past several years, mortgage rates have risen from record lows to the highest in decades. High rates and high housing prices are a tough combination for potential homebuyers ...
Construction & Renovation Mortgages
Build or remodel your dream home
Whether you’re building a brand-new home—including modular construction—or restoring that fixer-upper, you’ll find a wide array of mortgage and loan options at Salem Five.
- We combine construction loans (usually 3-12 months) and mortgages as a single loan with one closing, saving money and time—the mortgage kicks in when construction is complete
- The federal 203K Renovation Loan program covers home improvement, repairs and fix up. Complete your renovations after closing by using a portion of the loan proceeds for improvement costs
- We offer a specialized loan program for the construction of modular homes
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Other Articles of Interest
Understanding VA Loans
VA loans are issued by private lenders but guaranteed by the U.S. Department of Veterans Affairs (VA). They are available to active-duty service members, eligible veterans, and ...
What Is a Jumbo Loan?
Jumbo loans, or jumbo mortgages, are designed for financing properties that exceed the loan limits set by the Federal Housing Finance Agency (FHFA) for conventional mortgages ...
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Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.