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JD MORTGAGE® connects you with lenders who want to help you build a new home or renovate an existing property. We find the lenders that offer terms specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your construction financing needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
New Hampshire is a state in the northeastern part of the United States. It only borders four states: Maine, Massachusetts, Vermont, and New York but is also connected to Canada. The capital is Concord, and the largest city is Manchester. You are probably not surprised to learn that it’s the fifth smallest by area and the tenth least populous with only 1.4 million people.
What New Hampshire may lack in size and population, it definitely makes up for it in terms of wealth. The median price for a home in the state is $395,000 according to the New Hampshire Realtors Association.
When looking to create a perfect property, there are many options available. You might consider tapping in to home equity, credit cards, refinancing for a remodel, pulling money from money market funds, or applying for a traditional mortgage loan amount. However, for many people, these are not the only options with home loans to get your perfect property. Turning to home construction loans might be the right answer for helping you get your dream home. This allows you to work with home builders to upgrade your property to the level you need and want.
Many people are turning towards construction loans because they want something that will give them more flexibility than buying an existing home. Real estate experts in the state told us that the cost to build a home in New Hampshire is approximately $120 to $160 per square foot for standard grade construction, making it on the higher end of the spectrum.
A construction loan allows you to access that money upfront and pay it off slowly over time like a traditional mortgage.
There are also some other benefits associated with getting a New Hampshire construction loan; let’s take a look at those now so that you can decide if this might be the right option for you and your family.
New construction loans are a great way to make your home dreams a reality. They can be used for new homes, additions to existing homes, and the purchase of raw land with plans to build a home on it. Plus, there are several benefits to getting a new construction loan over other types of home financing.
First, you’ll get to enjoy the excitement of building your dream home from the ground up. You can be involved in every step of the process, from choosing your lot or building site to picking out flooring and countertops. You’ll be able to see your vision come alive as you watch your house take shape.
Second, owning a new home means fewer repairs or renovations are needed during the early years of owning the home since you’ll be the first family to live in the home.
Third, if you’re looking at buying land without a house already built on it, then this type of loan is perfect for financing both structures together instead of having two separate loans, which can increase your transaction fees and closing costs.
If you’re in the market for building or renovating a home in New Hampshire, consider these construction mortgage loans that are available to state residents.
TD Bank is one of the largest banks in the country with over $600 billion in assets, making it the sixth-largest by deposits in the United States. Not surprisingly, TD Bank has a robust construction loan product and should be one that you consider before making your ultimate decision.
We reviewed the TD Bank website to learn more about the TD Bank construction loan program. Here are the details:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
Northeast Credit Union is a community credit union in New Hampshire that focuses on the financial independence of its members. The credit union does business in both New Hampshire and Maine and provides a wide range of financial products, including construction loans.
We reached out to Northeast Credit Union to learn more about their construction loan product. They have a fantastic low down payment option that is worth nothing, along with the following details:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
Wintrust Mortgage is one of the top 20 bank-owned retail mortgage originators in the country that originates in excess of $4 billion in loans annually in all 50 states.
Recently we asked Wintrust Mortgage to provide us with details on their construction loan and this is what they said:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
Triangle Credit Union is a member-owned and not-for-profit institution started in 1939 serving the New Hampshire area. The credit union has over $800 million in assets and supports more than 57,000 members, including those that want to build or renovate a home using a construction loan.
We contacted Triangle Credit Union to learn more about the construction loan they offer and here’s what we found:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
Claremont Savings Bank traces its roots back to 1907 in Claremont, New Hampshire where local depositors put together the mutual savings bank that exists today. As a mutual savings bank, the bank is owned by its customers allowing it to keep costs low. They are also a portfolio lender, meaning that the loans are kept on the balance sheet of the bank, including their construction loan.
We wanted to learn more about Claremont Savings Bank’s construction loan, so we reached out to get the following details:
When you’re ready to connect with a loan officer, use our form to quickly match with construction loan programs based on your specific circumstances.
A construction loan is a type of mortgage that allows you to finance the construction of a new home. Here are a couple things to consider:
First, do you have enough cash on hand to pay all of the costs associated with buying or building a new home (or making significant improvements)? If you do not, then it may make sense to consider getting financing through a construction loan so that you can spread out the costs over time instead of paying them all upfront.
Second, would you like to take advantage of low-interest rates while also having more control over when you pay off your debt than traditional loans offer? Construction loans allow borrowers more flexibility with monthly interest-only payments during the construction.
Click on another state to find the best construction loan lenders in that state.
Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.
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