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 up to 60% of the appraised value (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 a quote.
  • Foreign Nationals are eligible for this program
  • Deal directly with the Loan Officer/Underwriter
  • Full income documentation, self-employed and limited income programs available
  • Fast pre-qualification, typically within 3 to 5 business days, closing typically within 21 days (fast track closings available)
  • Loans are available to Borrowers with excellent to less than perfect credit
  • Flexible draw schedules
  • 1 to 4 family homes, see Multi-Family for more than 4 units
  • 12 month construction term (longer terms considered on an exception basis)
  • Interest only payments based on funds advanced
  • New Builders will be considered

Rates and Fees

  • Rates From: 8.95% to 10.95%
  • Rates and fees based on overall qualifications (credit, income, savings & LTV)
  • Loan Fee: 1.75% to 2.25%
  • Application Fee $450 (Inspection fee may apply); Fast Track Application Fee $1,250
  • Underwriting Fee: $450

Loans available for: 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

Call today @ (800) 390-7536 or use the "Pre-Qualify Now" link above