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Purchase Plus Loans

Family walking outside of NCSB

Purchase Plus Loans

Imagine your realtor just showed you the perfect house, but it needs a few improvements to make it your dream home; the old-fashioned kitchen needs updating, the upstairs bathroom needs renovating, or your family would like to add a deck to the back yard. North Country Savings Bank's Purchase Plus Improvement program could be the solution. You can finance both the initial purchase price of your new house plus the cost of home improvements into one convenient loan.

The Purchase Plus Improvements program is very similar to securing a mortgage. Here's how it works:

  • Finance up to 80% of the as-improved value of the property
  • Any renovation that will improve the market value of your home is eligible for financing
  • A detailed cost breakdown of the proposed improvements is required to determine the as-improved value of the property

While most banks prefer a certified contractor to complete the improvements, North Country Savings Bank welcomes Do-It-Yourself builders. If you're thinking about building a new home from scratch, you could be eligible for a construction loan.

If you are unsure whether you would qualify for a Purchase Plus Improvement loan, stop by your nearest North Country Savings Bank location to discuss your unique financial situation with a loan expert.