March 4, 2010

Finding a Construction Loan for a Panelized Home


Securing a construction loan can be tough. It can be MUCH tougher when you are trying to buck tradition and build in a non-conventional way, such as building a panelized or prefabricated home. Most banks are simply not set up to fund construction before each component is fully assembled onsite. Typically, payments are made after each phase of work is installed.

Luckily for this project, one bank came through and made THE CONCORD GREEN HEALTHY HOME possible. Middlesex Savings Bank, a local mutual savings bank here in Massachusetts, had the vision to support panelized construction, and, as importantly, the flexibility to help fund pre-construction that was happening in Vermont before it even arrived on site in Massachusetts.

If you are considering panelized or pre-fab construction, contact your bank as soon as possible to learn whether they can help you with this particular building strategy. If not, ask your builder -- they have likely navigated these waters before. As with any other aspect of building green, going local can be the best option.

Thank you to Paul Adams and and the rest of the Middlesex Savings team for their invaluable support.

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