85% Construction Loan for NOO Spec Home

Does anyone know of a good source for 85% construction loan for Stated, NOO Spec Homes in Austin. Great credit and decent assets for borrowers. Some of the clients I can take Full Doc.

Payments rolled into the loan
Looking for 12 month term.

Try these guys www.vadiumgroup.com

Thanks to Shaun G for the tip on that one.

National City will do them as well. Full doc only.

With a 720 FICO and a ugly rate…

Not too bad on the rate. I am closing one tomorrow that is 7.625 as the ceiling rate. They also get a free floatdown 60 days before closing.

I was speaking about the rates for NOO…With between 1.375~1.875 hit to the rate for NOO, there are better programs…