Need 80-85% Construction Loan money for Spec House

This is drying up quickly. Does anyone know of a good lender for 80-85% of Future value for construction loans on Spec Houses? These properties will be in Texas.

Good Credit Scores and some of the borrowers can go full doc but several are also stated.


Full doc loans with decent credit should not be a problem. Have you tried National City? Good luck on stated spec houses though. I would try local banks.

I am aware of a construction only program (you would need to arrange perm financing seperately) that allows for NO DOC @ 80 LTC (loan to cost) spec home financing (with I/O payments).

Borrower must have a 680 FICO; how does that fit?


Scott Miller

I got one for this, actually goes to 90% future value for spec. Full Doc and also Stated allowed. Sent you a pm.

Here is another program that I am aware of that I offer in TX:

100 LTC (between 65-75 ACV)
4-5 Points
Spec or Owner/Builder Allowed
6-18 month maturity (extendable to 5 years)
Interest Only Payments
Repayment is based upon disbursed funds not total loan amount
Not FICO Driven (equity driven)
No Reserves Required
Individuals, Corps. Partnerships, Trusts and LLCs allowed
No Prepay


Scott Miller