SPEC Construction Loan Program #5, available in 22 states.


Currently 9.00% @ 1.25 points for 15 months.  Market leading pricing for experienced builders/developers on this  Spec Construction Loan.
This is Prime (currently 8.5%) + .5%, and is variable with the Prime Rate.  18 months at only 1.5 points, and if you are in and out in 15 months, you get .25 points back.  Up to 80% LTC (loan-to-cost).  Full recourse.  Brokers welcome.  Reasonable fees and fund control costs.  No depository relationship required.  No “global cash flow analysis” which amounts to calculating debt ratios when the exit strategy is to sell.  Quick term sheet turnaround.

We will give you currently land value after 3 years, unlike many banks who work off a hard loan-to-cost (using actual lot price).  Add .25% to points for loan amounts under $500,000.


Fees, points, and program parameters subject to change without notice.