The Problem We Solve
Banks have pulled back on speculative single-family construction in nearly every growth market, leaving experienced builders sitting on entitled lots with no path to vertical. Our spec home program is built for active builders putting up 2–50 homes a year who need capital that moves on their schedule, not a credit committee's.
Who This Is Built For
- Experienced spec builders with at least 3 completed homes in the last 24 months
- Builders pulling lots from a developer in an active subdivision
- GCs transitioning into spec building who already own one or two finished lots
- Builders carrying multiple homes across phases who need a master facility
Program Terms
How the Process Works
Submit the deal
Lot under contract or owned, builder résumé, pro forma, plans, and budget.
Term sheet in 48 hours
We size leverage against cost AND ARV, confirm recourse posture, and lock pricing.
Underwriting & appraisal
Subject-to appraisal, plan review, budget walk, and builder background.
Close & first draw
Close in 2–4 weeks. First draw funds at close or upon foundation, depending on land status.
Spec Home Construction in Your Market
We place spec home construction loans in every active U.S. growth metro. Pick your market for local terms, comps, and capital climate.
Frequently Asked Questions
Ninety percent loan-to-cost is the upper bound for experienced builders in liquid markets with strong as-completed values and tight budgets. Most builders land between 80% and 88% LTC depending on builder history, lot basis, and the ARV cushion. Newer builders or thin appraisals will price closer to 75–80% LTC.
Discuss a Spec Home Construction Deal
Submit your project. We'll respond within 24-48 hours with indicative structure and next steps.