This program is designed for Borrowers who are hiring a builder to construct a residential property. Upon completion, the loan may be converted at no cost to a permanent loan with Normandy.
Refer to "One Close" Construction/Permanent Loan (see permanent loan rates below).
The Normandy Advantage:
Loan amounts from $75,000 to $2,000,000
Loan amounts up to 90% of the appraised value on single family owner-occupied homes (up to 80% of appraised value on 2 to 4 family owner occupied and non-owner occupied homes)
Land purchase may be included in the construction loan, up to 80% of the lot purchase price
12 month construction term (up to 18 months on an exception basis)
Rates start at 6.95% during construction (requires "One Close" Construction/Permanent Loan with Normandy)
Fast pre-qualification, typically within 1 to 3 business days
Deal directly with the Loan Officer/Underwriter
Flexible draw schedules
Interest only payments with flexible payment options
Loans are available to Borrowers with excellent to less than perfect credit
Loans available in the following states:AK, CA, CO, CT, DE, FL, GA, ID, IL, IN, IA, KS, KY, MA, MD, ME, MI, MT, NH, NJ, NY, OH, OK, OR, PA, RI, SC, TN, UT, VA, WA, WY
Call today @ (800) 390-7536 or click the "Contact Me" or "Pre-Qualify Now" button above.
The "Pre-Qualify Now" link is for NON-BROKERSONLY. Brokers should refer to Broker Center. Broker Agreements will not be honored by Normandy if Broker submits a Pre-Qualification using the consumer link above.
NORMANDY CORPORATION
Principal Business Address: 46 Prince Street, Rochester, New York 14607
585-256-2600 * 800-390-7536 * Fax: 585-256-2836
Email:info@normandy.com
Hours: Monday - Friday 9 am to 5 pm
