This program is designed for Borrowers in need of financing to purchase a residential lot. Residential lots must be eligible for present or future construction of a residential property. Construction financing is also available (See appropriate link above for more information).

The Normandy Advantage:

  • Loan amounts from $35,000 to $1,000,000
  • Loan amounts up to 75% of the purchase price in improved subdivisions, where construction will begin immediately after acquisition, otherwise up to 65% loan to value. Please call for a quote. (Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts)
  • Foreign Nationals are eligible for this program
  • Deal directly with the Loan Officer/Underwriter
  • Pre-qualification typically within 3 to 5 business days
  • Closing typically within 21 +/- days subject to receipt of required documentation
  • No minimum acreage requirement or maximum limitations
  • Loans are available to Borrowers with excellent to less than perfect credit
  • Residential zoned land
  • Limited income documentation available at 40% LTV or less
  • Up to 5 year terms

Rates and Fees:
  • Rates From*: 7.95% to 9.95%
  • Loan Fee: 1.25% to 2.00%+
  • Rates and Fees based on credit, income, savings and LTV
  • Application Fee: $450
  • Underwriting Fee: $450
  • Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)

    *Minimum 9.95% rate for loans of $60,000 or less

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, ME, MI, MO, MS, MT, NC, NE, NH, NJ, NM, NY, OH, OK, OR, PA, RI, SC, SD, 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
  • Current 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)
  • Map of property
  • Signed and Accepted Purchase Contract for Land/Lot with proof of deposit or Closing Statement on Land/Lot Purchase
  • Lot/Land Improvements List
  • Signed and Accepted Broker Fee Agreement
  • Satisfactory evidence the lot can be built on
  • Normandy will order all appraisals. The appraisal fee must be paid in advance.