This program is designed to provide a business loan to purchase and/or develop unimproved raw land for a residential or commercial subdivision. Construction financing is also available.

The Normandy Advantage

  • Fast pre-qualification, typically between 3 to 5 business days
  • Foreign Nationals are eligible for this program
  • Deal Directly with Loan Officer/Underwriter
  • Loans are available to Borrowers with excellent to less than perfect credit
  • Flexible draw schedules

General Terms*

  • Loan Amounts: $100,000 to $1,000,000
  • Rates: 9.95% to 10.95% (Based on overall Borrower qualifications)
  • Loan Fees: 1.75% to 2.75%
  • Application Fee: $450
  • Underwriting Fee: $450
  • Term: 1 to 3 years
  • Loan to Value: Up to 50% of the appraised value, not to exceed 70% loan to cost. Loan to value could be less subject to a full underwriting and market review of the project.
  • Land purchase up to 55% of the purchase price. Cross collateralization allowed on other properties, if needed, for maximum loan amounts.
  • Maximum Broker Fee: 1.00% to 2.00% (subject to Broker Compensation option)
  • Loans available to qualified Developers with less than 5 years experience

*Subject to change without notice

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY

Call today (800) 390-7536 or use the “Pre-Qualify Now” link above.

NORMANDY CORPORATION
NMLS #71492
46 Prince Street, Rochester, New York 14607
800-390-7536 * 585-256-2600 * Fax:585-256-2836
Email: info@normandy.com

Hours: Monday – Friday 9 am to 5 pm EST