Building a Home

We understand the unique requirements specific to building or renovating a home. Sandy Spring Bank’s loan programs offer simple and affordable options to help you finance the home of your dreams.

Construction-to-Permanent Financing

Whether you’re building or renovating, our program allows you to combine your construction financing and permanent mortgage into one loan, with a range of added benefits. We bring the expertise of knowing our community and what it takes to get the job done.

How it works

Our construction-to-permanent loan provides financing for the purchase of your lot and the construction of your home. Most often, the property purchase and construction financing are rolled into one transaction. If you already own a lot, and, if it is mortgaged, you may be able to roll it in with the construction-to-permanent financing. Even if you’re renovating an existing home, you can still finance the renovation and mortgage with one convenient loan.

  • Certainty. Lock in your permanent mortgage interest rate up to a year in advance, giving you added protection against rising rates.

  • Savings. Save time and money with one loan qualification and one set of closing costs.

  • Convenience. Take up to 12 months for the construction of your home, and make interest-only payments on funds as they are disbursed.

  • Flexibility. Include lot financing or build on your own lot. You can build a primary residence or vacation home, or renovate an existing home.

  • Choices. Choose a 5/1, 7/1 or 10/1 adjustable-rate mortgage (ARM) as your permanent financing.

Loan program and details may change. Please consult a Sandy Spring Bank mortgage banker for specific loan program and details.

Home Renovation

You’re buying a home but it needs extensive renovations. Sandy Spring Bank can help. With the Home Renovations Program, Sandy Spring Bank will do a lot of the heavy lifting for you. Program highlights include:

  • A Sandy Spring Bank Pre-qualification, which lets sellers and contractors know you are serious. It also helps you know how much you can afford.
  • We work with a licensed builder or contractor to identify improvements and costs.
  • We help finalize your application for a mortgage with Sandy Spring Bank. The final loan amount will be based on the purchase price of the home and the cost of the improvements. If approved, the seller will be paid at closing and payments will be scheduled to cover work the contractor has completed.

This is being provided for informational purposes only and is not to be construed as a loan commitment of any kind. Actual loan qualifying is subject to verification and approval of income, credit, property appraisal, and other factors. Rates, Fees, and Programs are subject to change at any time without prior notice. A detailed Loan Estimate will be prepared upon receipt of your application for a loan.

View our Fair Lending Policy statement online.