Is the IH-35 corridor between Austin and San Antonio its own builder market?

Increasingly, yes. Builders work from Buda through New Braunfels as one corridor, sourcing lots in either metro. Capital structure looks the same — Texas regional banks and private credit both treat the corridor as one underwriting universe. Comal and Guadalupe counties have absorbed extraordinary growth.

Are Texas regional banks still active in San Antonio spec lending?

Yes. Frost, Veritex, and Texas Capital all maintain active spec lending desks in San Antonio. Pricing is competitive with private credit at the 70–75% LTC tier. Private credit is the answer for 80%+ leverage, faster closings, or master facility structures.

San Antonio spec home construction financing

San Antonio, TX · Up to 90% LTC

Spec Home Construction in San Antonio, TX

San Antonio spec home activity is concentrated in Comal County (New Braunfels, Bulverde, Spring Branch), Guadalupe County (Schertz, Cibolo, Selma), and northwest Bexar (Stone Oak, Helotes, Boerne). The IH-35 corridor between San Antonio and Austin is one of the most actively developed stretches in the U.S. The construction facilities we arrange fund up to 90% LTC for production spec and support master facilities for builders working the corridor.

San Antonio Developer Market

San Antonio has been the most affordable large Sun Belt market and continues to absorb significant migration from Austin. Comal and Guadalupe counties (New Braunfels, Schertz, Cibolo) drive most of the high-growth permitting, with Bexar County itself anchored by production builds in the northwest and northeast quadrants.

The IH-35 corridor between San Antonio and Austin is one of the most actively developed stretches of land in the U.S. right now. Builders are sourcing lots from Buda to Schertz and treating it as one corridor market.

Permit Trends

Comal County permits have outpaced Bexar in some recent quarters thanks to New Braunfels' absorption. Bulverde, Boerne, and Spring Branch continue to add inventory at the higher end. Northeast Bexar (Schertz, Cibolo, Selma) leads production-builder activity.

Capital Climate

Local Texas banks remain active and competitive. Private credit picks up multifamily and BTR overflow, plus most deals above $25M. San Antonio capital pricing typically runs 25–50 bps inside Austin for comparable product.

San Antonio Submarkets We Place In

New Braunfels Schertz Cibolo Boerne Helotes Bulverde Selma Converse Stone Oak

Spec Home Construction Program Terms

Loan-to-Cost

Up to 90%

Loan-to-Value (ARV)

Up to 75%

Loan Size

$250K – $5M per home

Term

12 – 24 months, interest-only

Recourse

Recourse and non-recourse options

Draws

Inspection-based, typically 5–7 day funding

Full Spec Home Construction Program Details

Representative San Antonio Deal

Spec construction loan

$485K

Single-home construction in New Braunfels at 88% LTC. Builder taking lots from a Comal County master-planned community.

Frequently Asked Questions

Questions builders and developers ask about spec home construction loans in San Antonio.

Finished lots in New Braunfels range $80K–$140K. Bulverde and Spring Branch run $100K–$180K (acreage product). Schertz and Cibolo sit at $70K–$120K. Northwest Bexar custom lots range widely, $90K–$300K+. Boerne and the Hill Country corridor support higher basis for luxury custom.