RESIDENTIAL CONSTRUCTION FINANCING www.normandy.com Construction Mortgage Loan in Virginia Understand financing for your new home construction project with Normandy Corporation. Construction financing follows the build A construction mortgage loan helps fund a new home while it is being built, unlike a traditional mortgage used to purchase an existing home. Stage the funding Connect the plan Funds may be released in stages as construction milestones are completed. Clear plans, realistic estimates, and organized project oversight help connect financing to the build. HOW IT WORKS A realistic budget protects the project A complete construction budget helps borrowers evaluate funding needs before work begins. Build the base Plan for land acquisition, site preparation, labor, materials, architectural plans, permits, and utilities. Protect the plan Include contingency funds for unexpected site or construction costs. Check the need Review the full budget before work begins so the funding need is clear. Lenders review the borrower and the build Borrower profile Common review areas include credit history, income, assets, and available funds. Project file Expect to organize construction plans, contractor information, project estimates, and supporting documents. Property outlook Expected property value and program-specific requirements may also shape the review. Program fit Requirements vary by financing program and lender. 1 2 3 Virginia projects bring practical variables Location and project requirements can change the overall budget and construction timeline. Site conditions Land conditions, site preparation, and utility access can affect the project scope. Local timing Local permitting and contractor schedules may influence timing. Overall impact Location and project requirements can change the overall budget and construction timeline. Prepare before construction begins A clear plan gives the project and the financing a stronger starting point. 1 2 3 Compare options Compare financing options and understand the proposed repayment structure. Gather the file Gather project documents, contractor details, and a realistic cost estimate. Review the plan Review the plan carefully before construction begins. 4 Talk it through Normandy Corporation can help borrowers understand construction and residential financing considerations. Get in touch With Normandy Corporation to discuss your construction financing considerations. www.normandy.com