Spec House Financing

I am in the construction business in TX. Our county is one of the fastest growing in the state. I am looking into building a Spec House but need to find lender for bad credit. Also I am interested in Real Estate Investing, but there is so much information out there, it’s hard to know which direction to begin. Any help would be appreciated.

What is the credit score?

I’m not sure right now. We had a major family illness starting in 2001 had several accounts written off and 2 auto repos. We almost lost our home, but sold it over a year ago now. Just trying to see if there are options for this type of project with worst case scenerio of credit.

There are construction programs for very low fico’s but require a lot of money down…

I would be interested in learning more about them. We have 5 acres for sale and could use the profit for the down. I’d like to be ready to move on something as soon as it sells. Property is going quick here. New homes are moving even faster, for the right price, which is what I want to get in on.

Sent you a PM

Where in Texas are you located? With the illness explanation and the down payment there are many local banks that will take a look at your loan.

There are many lenders that will finance a property 100% even for low score individuals. Many factors may affect what the lender will lend to you in particular: your credit score, how much debt your in vs. how much you make (gross), how much you need financed, and many others. If your credit is too low, I have a credit repair center where I send my clients to which helps them bring their credit score up about 100 points with in 6 months so that they can qualify for the loan.

Thanks so much for all who replied. I’m very encouraged.