For a Rate and Fees quote call
800-390-7536
Looking to complete a construction project that has already started? Normandy’s construction completion program covers everything from residential to commercial construction building that requires funding for completion of your project. Our construction completion loan is available for properties you currently own. Financing can be structured to cover whether you just started or are just short to complete the project. This product can meet your specific needs by helping you to reach your ultimate goal of completing the project. Please call for more details.
General Guidelines*
- Loan amounts from $95,000 to $10,000,000
- Loan amounts up to 85% of the appraised value on single family, owner occupied, full income documentation, conforming loan amounts up to $832,750. Loan amounts over $1M, up to 80% of appraised value may be considered. Loan amounts over $6M, up to 75% appraised value may be considered
- 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
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Flexible draw schedules
- 1 to 4 family homes, 5+ or Commercial Construction allowed
- 12 month construction term with extensions available
- Interest only payments based on funds advanced
- Borrower may act as own General Contractor or hire a qualified builder. No site supervisor required.
*All rates and terms subject to change without notice
Loans Available in the Following States
Owner Occupied
Loans available for owner occupied properties in the following states:
- California (CA)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Iowa (IA)
- Massachusetts (MA)
- Michigan (MI)
- North Carolina (NC)
- New Jersey (NJ)
- New York (NY)
- Oregon (OR)
- Rhode Island (RI)
- Virginia (VA)
- Washington (WA)
Non-Owner Occupied
Loans available for non-owner occupied properties only:
- Alaska (AK)
- Alabama (AL)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Georgia (GA)
- Hawaii (HI)
- Iowa (IA)
- Idaho (ID)
- Indiana (IN)
- Kansas (KS)
- Kentucky (KY)
- Massachusetts (MA)
- Michigan (MI)
- Maryland (MD)
- Maine (ME)
- Missouri (MO)
- Mississippi (MS)
- Montana (MT)
- North Carolina (NC)
- New Jersey (NJ)
- Nebraska (NE)
- New Mexico (NM)
- New York (NY)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Rhode Island (RI)
- South Carolina (SC)
- Tennessee (TN)
- Utah (UT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wyoming (WY)
Frequently Asked Questions
Construction Completion Loan
What can a construction completion loan be used for?
Normandy’s construction completion loan covers a wide range of projects: kitchen and bathroom remodels, room additions, roof replacement, structural repairs, foundation work, full gut rehabs, home rehab loan projects, ADU (accessory dwelling unit) construction, and fix and flip investments.
Is a construction completion loan available for investment properties?
Yes. Both owner-occupied and non-owner-occupied investment properties qualify for Normandy’s construction completion loan program.
How are funds disbursed during construction?
Funds are released in draws as work is completed and verified. Interest is only charged on funds actually advanced — not the total home remodel financing amount.
Is there a minimum FICO score required?
No minimum FICO is required for consideration. However, a 750 mid FICO is needed to qualify for maximum LTV (90% conforming / 80% jumbo) on renovation loans.
For a Rate and Fees quote call
800-390-7536
Construction Completion Loan
This program is designed for Borrowers who need funding to finish an already started construction project. Non-Owner Occupied properties allowed. Please call for details.
General Guidelines*
- Loan amounts from $95,000 to $5,000,000
- Loan amounts up to 85% of the appraised value on single family, owner occupied, full income documentation, conforming loan amounts up to $832,750. Loan amounts over $1M, up to 80% of appraised value may be considered. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
- Lender will advance up to 75% of the purchase price towards the acquisition of a property
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Flexible draw schedules
- 1 to 4 family homes, refer to Commercial Construction for more than 4 units
- 12 month construction term with extensions available
- Interest only payments based on funds advanced
- Borrower may act as own General Contractor or hire a qualified builder. No site supervisor required.
*All rates and terms subject to change without notice