LOAN TERMS

pre-loan requirements for all borrowers

  • Ratified sales contract

  • Home plans and construction specifications

  • Appraisal

    • to be completed by our appraiser after your initial application is submitted

  • Draw schedule

  • Copy of Contractor’s license

  • Site plan/Survey

  • Builders Risk and General Liability insurance

    • certified NCF additional insured/ loss payee

  • Workers Compensation Insurance, as required by regulation

    • certified if applicable

APPLY NOW

NCF Has Two Programs Available

  1. A 0% down option for Experienced Borrowers up to 70% of appraised value

  2. 10% down option for New(er) Borrowers up to 70% of appraised value

To be considered an Experienced Borrower you must show proof of two successful transactions within the last 6 months.

In both programs, NCF will also finance purchase closing costs.NCF is committed to fast approvals and smooth closings. We have two programs available, one for Experienced Borrowers and one for New(er) Borrowers. You will be considered an Experienced Borrower if you can show proof of two successful transactions within the last 6 months.

NEW(ER) BORROWERS

  • The borrower must bring 10% of the total all-in costs to closing

  • 3% origination fee, financed

    10% interest expense, financed

  • ???

    You had this listed as the new borrowers didn’t have to pay closing costs, but I saw somewhere else where they did. Please confirm

  • 180 days with the option of two 30-day extensions at a cost of 1%, paid at extension approval

    At month 9 - interest is accelerated to 28% per annum and due at the beginning of each month

    At month 11 - the accelerated interest rate of 28% stays in place and foreclosure proceedings will begin

  • Acquisition & construction funding to be drawn upon

    $50 fee per draw

    Site visit & lien waivers cleared by NCF prior to each draw

  • Loan secured by a first Deed of Trust, there may be no other liens or deeds

    Loan guaranteed by both your entity and you personally

  • All site workers will be documented as required by law

    All loan documents and contents must remain confidential

EXPERIENCED BORROWERS

  • The borrower brings no money to closing

  • 3% origination fee, financed

    12% interest expense, financed

  • NCF’s closing & processing costs, direct expenses, attorney fees, draw fees included as project costs and financed to term

  • 180 days with the option of two 30-day extensions at a cost of 1%, paid at extension approval

    At month 9 - interest is accelerated to 28% per annum and due at the beginning of each month

    At month 11 - the accelerated interest rate of 28% stays in place and foreclosure proceedings will begin

  • Acquisition & construction funding to be drawn upon

    $50 fee per draw

    Site visit & lien waivers cleared by NCF prior to each draw

  • Loan secured by a first Deed of Trust, there may be no other liens or deeds

    Loan guaranteed by both your entity and you personally

  • All site workers will be documented as required by law

    All loan documents and contents must remain confidential

START PROCESS