Please note:

Salem Five is currently closed for a company-wide meeting. Limited services are available at (800) 850-5000. We will reopen on Wednesday, August 12. Online and mobile banking are available 24/7. Salem Five Insurance remains open and can be reached at (781) 933-3100. We appreciate your understanding.

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High-quality customer service for all your personal and business banking needs. Access your account online 24/7.

Contact:
(800) 850-5000 or email

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Q: What is Salem Five's routing number?

A: 211370558

Q: What is Salem Five's mailing address?

A: 210 Essex Street, Salem, MA 01970

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Commercial Construction Loans

Construction worker at site holding blueprints and looking down at mobile device.

Financing Solutions for Local Homebuilders & Developers

Whether you're constructing a new property or renovating for resale or rental, Salem Five offers construction loans designed to support your vision. With competitive rates1 and flexible terms, we’ll work with you to create a financing plan that aligns with your business goals, so you can focus on building success.

We offer a variety of construction loan products to service:

  • Suburban tract developments, with infrastructure and road funding
  • Single-Family Teardowns and Rehabs
  • Ground-up and Renovations for Townhouse, Garden-Style, Detached, and Condex-style Condos
  • Urban Condo Conversions
  • Ground-Up Multi-Family or Apartment Renovations
  • Additional expertise in 40B developments, MBTA zoning, Merged Lots, Accessory Dwelling Units and Non-Profit/Affordable Housing


Salem Five Construction Loan Benefits

  •  
    Acquisition and construction funds are efficiently completed in a single closing to meet tight deadlines.
  •  
    Lenders and decisions makers support housing with industry expertise and local insight, in MA, NH and Southern ME.
  •  
    Builders have access to Salem Five’s experienced Mortgage and Insurance companies.
  •  
    Insurance Agents provide builder’s risk, contractor liability, vacant dwelling, and general liability policies.
  •  
    Mortgage products include end loans and construction-to-permanent financing for your prospective buyer.
  •  
    Property inspections are completed by your lender directly, or our network of quick third-party inspectors. Advances are approved and processed by your lending team, not a back office.
Mark Palermo, Salem Five Construction Loan Officer
Mark Palermo
VP, Construction Loan Officer
Salem, MA
 

Construction Loan Officer

Contact Mark today to have a conversation about your Construction Lending needs.

Construction Loans: FAQs

1 All offers of credit are subject to approval. Other mortgage options available. Other terms and conditions apply. Property insurance required. See tax advisor regarding deductibility of interest.