LoansFor over 80 years, The Norwich Housing Corporation has a proven track record of assisting Theta Chi house corporations with the acquisition, renovation and new construction of Theta Chi chapter houses. Today, Norwich remains committed to helping Theta Chi house corporations and stands ready to assist in any way needed. Working together, we can meet the needs of today’s student and improve our ability to compete in today’s college market place.
Getting started
Mortgage loans The Norwich Housing Corporation provides mortgage loans to Theta Chi house corporations that intend to purchase, build or renovate a chapter house. The base rate for all housing loans starts at 8.50% and is adjusted according to Norwich’s Loan Pricing Matrix. Rates range from 6.875% and up to a maximum of 10.375%. Terms for house loans are typically 5 to 25 years.
Life Safety LoansLife Safety Loans are granted on a discretionary basis to help pay for urgent works necessary to reduce or eliminate serious housing life safety risks (fire rated doors, sprinkler systems, fire alarm, security systems, etc).
The Life Safety Loan is a short-term, 3.00% loan. A typical Life Safety Loan is for 3-5 years and is secured by a mortgage.
Emergency loansThe Frederick W. Ladue Loan is a short-term, unsecured loan that provides emergency funds to Theta Chi house corporations for unexpected situations (e.g. broken boilers, holes in the roof, etc.). The Ladue Loan is a 10.0% loan with terms of 1-3 years. Applications are reviewed quickly and funds can be made available on short notice. Requests for Ladue loans are generally for under $10,000.
Loan RequestsTo request a loan, contact The Norwich Housing Corporation at:
Phone: 317-824-1881
Fax: 317-824-1908
E-mail:
norwich_loans@thetachi.org Important NoticeThe Norwich Housing Corporation reserves the right to make changes to this program at any time without notice. Do not make financial commitments to architects, contractors, or to anyone else, or negotiate contracts or leases of any kind on the assumption that a loan may be obtained. Loans are approved in the sole discretion of The Norwich Housing Corporation after receipt of an application. No other official of the fraternity has authority to promise loans.
