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Construction Loans


Our expertise and knowledge make your project run more smoothly with flexible funding

Finance big plans with a construction loan.

With blueprints in hand, you can break ground confidently with the flexible financing that comes from United Bank's construction loans. Whether you’re building a new home or tackling a renovation project, United Bank will help you get a financing option that fits both your budget and your timeline.*

Construction Loan Overview

  • Use this construction loan for up to 12 months to complete your CT or MA home construction project
  • Take advantage of one closing and a disbursement period during which you pay interest only on your loan
  • United Bank’s loan experts will be with you every step of the process

Trust United Bank to help you with your construction loan. Contact our team today and see how we can help you build your dream home.

What is a construction loan?

Construction loans help you finance homebuilding or renovation costs.

How does it work?

The first step to receiving a construction loan is to complete the United Bank application process. The documents you will need are similar to those required for a mortgage. Your builder and your final construction plans will also need to be approved. An appraiser will review the specs and provide an estimated value of your future home. In addition, a down payment is required.

If you qualify and are approved for the loan, United Bank will pay your contractor in installments. These advances are also known as “draws.” During this time you will only pay interest on your loan. Upon completion of your project, you can choose to pay the construction loan in full or convert it into your mortgage.

What expenses can a construction loan cover?
A construction loan can help you cover the following expenses:
  • Labor and materials
  • Land
  • Plans
  • Permits and fees

Benefits of a United Bank construction loan
  • Provides the funds you need for a new home construction or an extensive renovation
  • Manageable interest-only payments during the construction or renovation process
  • Competitive rates
  • One-time closing will save you money
  • Personalized assistance from United Bank construction loan specialists

Building a new home or renovating an existing one is an exciting experience. A construction loan from United Bank can help the process go more smoothly. Contact our MA and CT team today to learn more about construction loans and how you may qualify for this convenient form of financing!

*Subject to credit approval.

Get support from our team of experts.


At United Bank, we make the home financing process easy. We invite our neighbors in Connecticut and Massachusetts to stop by one of our branches and talk to our team about your needs. Not in CT or MA? Call us and we will be happy to assist you and guide you through the process step-by-step.

Find a loan officer, email us, visit a branch or call us.