Hiring a Builder Loan

Construction Loan for Hiring a Builder – Custom Home Builder Financing

Pre-Qualify (Consumer Use Only)
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For a Rate and Fees quote call

800-390-7536

PRE QUALIFY NOW (Consumer Use Only)

Ready to hire a contractor to build your home? Normandy’s construction loan with builder program is built around your builder’s schedule. Our custom home builder loan disburses funds in draws aligned with construction milestones — so your builder gets paid on time and your project keeps moving forward without delays.

New home construction financing through Normandy is straightforward. You select your licensed GC, we handle the funding. This program is designed for Borrowers who are financing building a home with a licensed General Contractor. Whether you’re building a custom home from the ground up or constructing a new residence on land you already own, our home builder financing keeps pace with your build from permit to final walkthrough. Land purchase can be included in the loan — so one loan covers it all.

General Guidelines*

  • Loan amounts from $95,000 to $10,000,000
  • Conforming loan amounts up to $832,750. Maximum 90% loan to cost or loan to value, whichever is less
  • Jumbo loan amounts from $832,751 to $10,000,000. Up to 80% loan to cost or loan to value, whichever is less.  Loan amounts over $6M, up to 75% appraised value may be considered.
  • Cross collateralization allowed on other properties for maximum or greater loan amounts, and loan to values
  • Construction completion available (construction has begun) 
  • Owner occupied and non-owner occupied properties allowed
  • Full income documentation required to qualify for 90% on conforming loan amounts and 80% on jumbo loan amounts
  • Land purchase may be included in the construction loan
  • 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 30 days (fast track closings in 14 +/- days available if certain criteria is met, please call for details)
  • Licensed General Contractor required
  • No minimum FICO required for consideration, however a minimum 750 mid FICO score is required to qualify for 90% conforming & 80% jumbo construction loans (subject to underwriting)
  • Flexible draw schedules aligned with builder’s schedule
  • Up to 80% allowed on 2 to 4 family owner-occupied homes
  • 5+ units, please refer to Commercial Construction
  • 12 month construction term with term extensions available
  • Interest only payments based on funds advanced

*All rates and terms subject to change without notice
**Specific qualifications are required to qualify, please call for details

Loans Available in the Following States

Owner Occupied

Loans available for owner occupied properties in the following states:

  1. California (CA)
  2. Connecticut (CT)
  3. Delaware (DE)
  4. Florida (FL)
  5. Iowa (IA)
  6. Massachusetts (MA)
  7. Michigan (MI)
  8. North Carolina (NC)
  9. New Jersey (NJ)
  10. New York (NY)
  11. Oregon (OR)
  12. Rhode Island (RI)
  13. Virginia (VA)
  14. Washington (WA)

Non-Owner Occupied

Loans available for non-owner occupied properties only:

  1. Alaska (AK)
  2. Alabama (AL)
  3. California (CA)
  4. Colorado (CO)
  5. Connecticut (CT)
  6. Delaware (DE)
  7. Florida (FL)
  8. Georgia (GA)
  9. Hawaii (HI)
  10. Iowa (IA)
  11. Idaho (ID)
  12. Indiana (IN)
  13. Kansas (KS)
  14. Kentucky (KY)
  15. Massachusetts (MA)
  16. Michigan (MI)
  17. Maryland (MD)
  18. Maine (ME)
  19. Mississippi (MS)
  20. Missouri (MO)
  21. Montana (MT)
  22. North Carolina (NC)
  23. New Jersey (NJ)
  24. Nebraska (NE)
  25. New Mexico (NM)
  26. New York (NY)
  27. Ohio (OH)
  28. Oklahoma (OK)
  29. Oregon (OR)
  30. Pennsylvania (PA)
  31. Rhode Island (RI)
  32. South Carolina (SC)
  33. Tennessee (TN)
  34. Utah (UT)
  35. Virginia (VA)
  36. Washington (WA)
  37. West Virginia (WV)
  38. Wyoming (WY)

Frequently Asked Questions

Hiring a Builder Construction Loans

What is a construction loan with a builder?
It’s a draw-based home builder financing loan where funds are released in stages as each phase of construction is completed and verified. Your licensed GC receives payment on schedule — keeping your new home construction financing on track.
Not necessarily. Land purchase can be included in your construction loan with builder, so you can finance building a home including both the lot and the build through a single loan.
Yes. Normandy’s building a custom home loan program is designed exactly for this — you work with your chosen GC, and we structure draws around their schedule.
Yes. Both owner occupied and non-owner occupied properties are eligible for this program.
Pre-qualification typically takes 3 to 5 business days. Fast-track closings in approximately 14 days are available if certain criteria are met — call for details.

Draw Request Submitted

Thank you for requesting a draw.  You will receive an email or call confirming your draw request has been received within 1 business day.  If you do not receive confirmation, please contact our office at 800-390-7536.  Please notify us of any changes you wish to make to your request.  

Normandy Corporation

Thank you for scheduling your payment.  You should receive an email confirmation of payment within 1 business day.  If you do not receive a confirmation email within 1 business day, please call our office to confirm at 800-390-7536.