NOVA FUNDING is a subsidiary of Novinger Resources, Inc., a real estate investment and development company founded in 1973. Since its inception, Novinger Resources, the parent company of the Novinger Resources Group, has formed and managed entities that have owned raw land, apartment buildings, mobile home parks, and self storage enterprises. The Novinger Resources Group is now dedicated to commercial mortgage lending, residential subdivision development, and the construction of colonial-style homes in Mexico.
NOVA FUNDING, our commercial mortgage company, provides short-term first mortgages throughout Central Texas. Investors participate by investing in these notes and earn 12% annual returns secured by real estate. NOVA FUNDING creates the mortgages for the Borrowers and services and collects the loans on behalf of the Investors. NOVA FUNDING is compensated by funds collected from the borrower. The loan to value ratios on these loans range from 30 to 70%.
Loans are made to Borrowers to acquire, refinance, or renovate residential or commercial property and land. These short-term loans, usually no longer than 12 months, begin at $100,000 and may range up to $1,000,000, or more. The typical loan has an interest rate to the Borrower of 14% and loan points of 4%.
We invite inquiries from Borrowers and Investors.
Glen Novinger
Glen Novinger, President NOVA FUNDING, Inc.
RELATED EXPERIENCE NOVINGER RESOURCES, INC. President since 1973 Austin, Texas
EVANGELINE SAVINGS & MORTGAGE COMPANY Vice-President, Director, & Stockholder Halifax, Nova Scotia, Canada
NOVA SCOTIA MORTGAGE LOANS ASSOCIATION President
CENTRAL BANK Vice-President of International Banking Denver, Colorado
CITIBANK Senior Regional Officer Eastern Canada, New York, Middle East, & Latin America
EDUCATION & LICENSES Phillips University, B.A. American University, M.A. Texas Real Estate Broker Certified Commercial Investment Member designation awarded in 1984
NOVA FUNDING, PO Box 90699, Austin,TX 78709-0699 - Tel. 512-632-0884 NOVA FUNDING is a subsidiary of Novinger Resources, Inc.
Important Notice: Our office is located in Austin, Texas, USA. We have NO AUTHORIZED AGENTS ELSEWHERE.
