Build to Hold Hard Money Program
The Norris Group's build/construction to hold hard money program is built for California real estate investors that own land free and clear, have construction plans and permits, and are looking for money to construct and then hold the property as a rental upon completion. Looking to flip the property after construction? Please see our Build to Flip Program.
This private lending program is available for self-directed IRA accounts and entities (Corps, LLCs, partnerships, trusts, etc.). There are four inspection fees that are tied directly to builder department approved milestones.
California Hard Money Terms
| Build to Flip |
|
|
Term of Loan:
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8 Year |
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Interest Rate:
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12.9%* construction to 9.9% refinance |
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Prepayment Penalty:
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2-year prepay penalty once converted |
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Loan to Value:
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65% LTV Max |
| Points:** | 2.5 Pts |
| Misc. Fees: | $1,095 |
| Appraisal Fee: | $375 |
| Modification Fee: | $500 |
| Building Inspections: | 4 x $200 |
| Entities: | OK |
| IRA Loans: | OK |
* 0.4% additional interest if investor is not opted in for direct deposit.
** Minimum $2,500 fee for orgination.
All loans subject to change.
Other Private Money Programs:
