ADU Barndominium Construction
Merrimack County Savings Bank (The Merrimack) announces the addition of its float down feature for home construction loans, offering customers greater flexibility and potential savings. This new option may allow for a one-time interest rate reduction if rates decrease during the construction period, giving customers peace of mind in a fluctuating market.
“Offering the float down option addresses a main concern every homebuyer faces,” said Jaime Frederes, SVP Residential Mortgage Lending at The Merrimack. “It’s a practical solution that helps manage expenses by benefiting from positive market shifts.”
Interest rates can change unexpectedly, which makes it essential for homebuyers to work with their Mortgage Loan Officer to weigh the costs of a float down option. Eligibility requirements and loan terms vary, so it’s encouraged that homebuyers make an informed decision, balancing immediate expenses with long-term benefits. To learn more about The Merrimack’s Construction Loan program, visit themerrimack.com.
The Merrimack’s float down option is subject to credit approval and program requirements. Restrictions may apply. Merrimack County Savings Bank NMLS #433938, Equal Housing Lender.
Merrimack Style is treating everyone – customers, employees and community members – with dignity, care, respect and compassion. Founded in 1867, The Merrimack has served the people, businesses, non-profits and municipalities in Central and Southern New Hampshire for 159 years. Merrimack County Savings Bank is a mutual savings bank that benefits local depositors, borrowers, and surrounding communities instead of stockholders on Wall Street. To learn more, visit any of their local offices in Bow, Concord, Contoocook, Henniker, Hooksett, Nashua and Windham; call 603.225.2793 or visit themerrimack.com.