Merrimack County Savings Bank (The Merrimack) is excited to announce the expansion of its construction loan program to include Accessory Dwelling Units (ADU). An ADU is a small residence located within, attached to or detached from an existing primary residence. With a limited supply of affordable housing options in New Hampshire, ADUs meet the need for available housing and prevent further land development.
“As a community bank, we recognize the ongoing housing crisis facing our communities,” said Garry Cornelius, VP Residential Mortgage Sales for The Merrimack. “By offering more affordable financing options like ADU construction loans, we’re able to support stable housing while creating solutions for generational and independent living as families housing needs evolve.”
Beneficial for people of all ages, ADUs are self-contained and must include its own kitchen, bathroom and living/sleeping area. Under state law, homeowners have the right to create an ADU for a family member, caregiver or as a rental unit, as long as it complies with local ordinances.
The Merrimack offers a variety of home and construction loans. To learn more about ADUs and the construction process, visit themerrimack.com/home-construction-lending/.