Self Build / Owner Build Loans

For a Rate and Fees quote call


Brokered Self Build
Owner Builder Loans

This program is designed for Borrowers who are acting as their own general contractor and/or plan to complete some of the construction themselves on a residential Owner Occupied property (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 loan to cost; 85% of the appraised value for loans of $726,200 or less and 80% for loans over $726,200, up to 75% for loans over $1M on single family, owner occupied, full income documentation. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts
  • Land purchase may be included in the construction loan, up to 75% of the lot purchase price
  • Foreign Nationals are eligible for this program
  • Borrower acts as own General Contractor (No site supervisor required)
  • 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
    *All rates and terms subject to change without notice

    Rates and Fees
      (Based on credit score, income, savings and LTV)

    • Rates:  Prime Rate plus 2.75% to 3.75%+
    • Loan Fee: 1.375% to 2.00% 
    • Application Fee: $295
    • Fast Track Closing Fee: $1,250
    • Underwriting Fee: $425
    • Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)

To start the pre-approval process, download the Loan Submission Form above and include a completed 1003, current Tri-Merge Credit Report and appraisal, if available.

Loans available for owner occupied properties in the following states: CA, CT, DE, FL, IA, MA, MI, NC, NJ, NY, OR, PA, RI, VA, WA

Loans available for non-owner occupied properties only: AK, AL, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MI, MD, ME, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, UT, VA, WA, WV, WY

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.