The Noble Group finances vertical construction on single family and small subdivision projects. After evaluating your construction plans, we will work with you to develop a draw schedule that keeps your project moving.
Like all our other loan products, you only pay interest on the money actually borrowed. No Junk Fees. No Exit Fees. Our pricing has four components. That’s it.
Areas of Coverage: Maine, Massachusetts, New Hampshire, Pennsylvania, Maryland, North Carolina, South Carolina, Georgia, Alabama, Florida
The Noble Group’s private lending works very much the same as our flix and flip loan product. We fund a percentage of the land purchase, and then fund construction in draws as work proceeds.
Most new construction loans can be funded in 7–10 business days, often times faster. This speed allows you to start your project quickly without relying on banks or other larger private lenders’ financing.
Typically, The Noble Group will fund 50% of the land purchase price if the building permit is not in place at the time of closing. We will lend up to 75% of the land purchase if the building permit is in place at the time of closing. You will also need to pay third-party fees, such as attorneys, property insurance, title insurance, etc.
We fund the construction hard costs. You will have to pay for soft costs such as surveys, engineering & design fees, permits, insurance, project management, and marketing. Construction draws are released in stages for completed work.
• Loan term: Typically 12 months.
•Loan-to-Value: Up to 75% of ARV
• Interest rate: 12% – 14% (deal specific)
• Payments: Interest-only during the loan term.
• Minimums: 90 days minimum of interest collected, $2,500 minimum origination fee, and $100,000 loan amount.
No, but we like to see a score of at least 625.
• Single-family homes
• Townhomes, condos
• Multi-family up to 20 units
Yes. We work with both new and experienced builders. First-time builders may need slightly more
money down, a business partner or show experience in the trades, but we’re here to help you structure the deal and set you up for success.
Life (and construction) happens. Extensions are available if you need more time — just let us know before your loan matures so we can plan accordingly.
