This program is designed to provide a business loan to a Builder for the construction of a model or spec home.

The Normandy Advantage:

  • Loan amounts from $100,000 to $4,000,000
  • Loan amounts of up to 60% of the appraised value. LTV reduction may apply based on loan amount, FICO less than 740, full doc vs. limited, reserves and builders years of experience. (Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts)
  • Land purchase may be included in the construction loan. Please call for quote.
  • Foreign Nationals are eligible for this program
  • Deal directly with the Loan Officer/Underwriter
  • Fast pre-qualification, typically within 3 to 5 business days
  • Loans are available to Borrowers with excellent to less than perfect credit
  • Flexible draw schedules
  • Full income documentation, self-employed and limited income programs available
  • 1 to 4 family homes preferred, see Multi-Family for more than 4 units
  • 12 month construction term (longer terms considered)
  • Interest only payments based on funds advanced
Rates and Fees:
  • Rates From: 8.95% to 10.95%+ (Based on Overall Qualifications. See guidelines for details)
  • Loan Fee: 1.75% to 2.250%
  • Application Fee $450 (Inspection fee may apply)
  • Underwriting Fee: $450
  • Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)


Loans available in the following states: AK, AL, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WV, WY

To start the pre-approval process, download the Loan Submission Form above and include a completed 1003, Tri-Merge Credit Report and appraisal if available.

Documents required for a full application package. Submit by Email, USPS or overnight mail ONLY:

  • Normandy Loan Submission Form
  • Fully Completed and Signed 1003 application or fully completed and signed Normandy Personal Financial Statement
  • Tri-merge Credit Report for Borrower(s)
  • Current month pay stubs (for W2 Employee)
  • 2 Years Tax Returns Including all Schedules and W2's (if applicable)
  • Asset Verification (2 Months statements for all accounts including checking, savings, 401k, IRA, stocks, other)
  • Legible copy of a valid drivers license for Borrower(s)
  • Construction Cost Breakdown or signed and accepted Building Contract if hiring a Builder (Normandy to supply Cost Breakdown)
  • Signed and Accepted Purchase Contract for Land/Lot with proof of deposit or Closing Statement on Land/Lot Purchase
  • Plans & Specs and Survey Map
  • Satisfactory Appraisal to be ordered by Normandy. Appraisal fee must be paid in advance.
  • Signed and Accepted Broker Fee Agreement
  • Verification of all down payments on the lot or deposits paid to the Builder (if applicable)
  • Completed Builder Profile (Normandy Form)