Finance your home improvements without refinancing your mortgage
Finance your home renovation or construction project with a second mortgage that lets you keep your current first mortgage.
A smarter way to fund major home improvements
A Home Improvement Second Mortgage gives homeowners a flexible way to finance construction now and transition to permanent financing later without refinancing their existing mortgage.
This loan is based on the home’s completed value after improvements, not just the equity you have today.
- Keep your current first mortgage and interest rate
- Interest-only payments during construction for 12 months
- Borrow based on future value after improvements
- Designed for major renovations, additions, or construction
Who should consider this loan
This option is for homeowners who:
- Have a subject property in Massachusetts,
New Hampshire, or Maine - Want to improve or expand their home
without refinancing your first mortgage - Have limited available equity
Loan details
- Loan amount: $100,000.00 – $500,000.00
- Loan type: Second mortgage (keeps your existing first mortgage in place)
- Payments: Interest-only during 12 month construction phase
For properties located in Massachusetts, funds must be used for approved construction or improvement work performed by a licensed contractor. This is not a home equity line of credit (HELOC). All loans are subject to credit approval and collateral evaluation. Terms and conditions apply.
Meet our lending team
Our local lending team takes a collaborative, hands-on approach—working closely with you and your contractor to keep your project moving forward with clarity and confidence.
