If you’re planning to build a single-family, owner-occupied residence, we have one of the best programs around. Choose a biweekly fixed rate, monthly fixed rate or adjustable rate mortgage with the term that best fits your needs. We offer a low down payment, and you can use equity you already have in the project, such as land or site improvements already made.
Closing takes place prior to the start of construction and during your project you will be billed monthly for interest on funds we’ve advanced to you. Once your project is complete, your regular mortgage payments will start. And because there’s only one closing, you’ll save the cost of a second closing.
Contact one of our offices to speak with a Chemung Canal mortgage professional today!