Construction Completion Loans in California
Construction Completion Loan in California
Finishing a build in California starts with securing the right loan. Normandy’s construction completion loan is available to borrowers across California, from Los Angeles and the Bay Area to smaller residential markets throughout the state, for projects that have already started and need funding to be completed.
California’s permitting complexity, including CBC seismic requirements, Title 24 energy compliance, and fire-zone regulations in hillside and coastal counties, can stretch budgets on a project already under way.
Loan amounts from $95,000 to $10,000,000. Conforming loan amounts up to $832,750 at up to 85% of appraised value on single family, owner occupied, with full income documentation. 12 month construction term; extensions available. Interest only payments based on funds advanced. Foreign Nationals are eligible.
Pre-qualify or request a rate quote using our Construction Completion Loan Form. Learn more about all Normandy Loan Programs, or call us at 800-390-7536.
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
California Construction Market & Regulatory Overview
California is one of the largest residential construction markets in the country. Sustained housing demand across coastal cities and inland growth corridors keeps construction and renovation active year-round.
Building Code: California Building Code (CBC) and Title 24 energy efficiency standards.
Permitting: Permits are issued at the county and city level. Plans must comply with CBC requirements and local zoning before any permit is approved.
Key considerations in California include seismic activity zones, coastal weather exposure, and wildfire-prone hillside areas. Normandy’s underwriting team works directly with borrowers — you deal with the loan officer and underwriter, not a call center.
Contractor Licensing in California
California requires contractors to be licensed through the CSLB (Contractors State License Board). Borrowers who hire a builder should verify the builder’s CSLB license number before completion work continues.
Owner-Builder Note: California allows owner-builders to pull permits for a primary residence under B&P Code Section 7044, though restrictions apply on frequency and resale.
On a completion loan, the borrower may act as their own General Contractor or hire a qualified builder. No site supervisor is required.
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 in the following states:
- 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 in California
Q: What is a construction completion loan in California?
A: A construction completion loan in California is financing for a project that has already started and needs funding to finish. Normandy’s program covers residential to commercial construction and can be structured whether you just started or are just short of completing the project.
Q: What can a construction completion loan be used for in California?
A: It can be used for kitchen and bathroom remodels, room additions, roof replacement, structural repairs, foundation work, full gut rehabs, home rehab projects, ADU (accessory dwelling unit) construction, and fix and flip investments.
Q: Can I act as my own general contractor in California?
A: Yes. The borrower may act as their own General Contractor or hire a qualified builder. No site supervisor is required.
Q: Is a construction completion loan available for investment properties in California?
A: Yes. California is available for both owner occupied and non-owner occupied properties. Please call for details.
Q: How are funds disbursed and is there a minimum credit score in California?
A: Funds are disbursed on flexible draw schedules, with interest only payments based on funds advanced. Loans are available to borrowers with excellent to less than perfect credit, subject to underwriting.