IMPORTANT CONDITIONS OF LADUE LOAN PROGRAM
Loan requests will be evaluated in the order a completed application is received.
The loan proceeds are disbursed on a “draw basis” for work and materials properly completed.
Your loan request is approved only when The Norwich Housing Corporation (NHC) has issued a commitment letter.
The interest rate and amortization term will be quoted to you upon approval.
Principal and interest payments shall be due on the first day of each month, twelve months per year, and shall be done electronically in accordance with the Electronic Fund Transfer (EFT) program.
QUALIFYING WORKS
At the discretion of The Norwich Housing Corporation, a Ladue Loan will be considered for the reasonable cost of items The Norwich Housing Corporation would consider as “emergency” items. |
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