Construction Loans

Have you spent months on end house hunting with no luck finding your Maine dream home? Then build it! With our unique single close construction loans you'll be able to build your version of a "dream home". 

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Why Skowhegan?


Single Close Construction Loans

 It’s easy - single close and we lock you in at a low fixed rate at the time of application.

Up to 95%* Financing

We can finance up to 80% of the appraised value or 95% with private mortgage insurance (PMI)*

Pay Only Interest for 12 Months

Enjoy paying interest only for 12 months (if no PMI).

The Process

Work with your Community Banker to find out what your project options are.



During the 12 month construction period, you will only be required to pay interest on the amount that you’ve drawn to date for your project. This leaves more money in your pocket during construction.

When your home is complete, it's easy to keep your mortgage loan with us.


Talk with one of our Maine lending experts


*Subject to credit and private mortgage insurance (PMI) approval