SPEC SFH and TH Financing Nationwide for Full-Time Builders

[Simmy Ahluwalia]

Are you a full-time builder? Have you completed a minimum of 5 Spec SFH or TH builds before? Here is our program below:

Qualifications:

• Minimum 3 years of Building Experience - (References will be requested to confirm building experience)
• Built/Sold at least 5 Homes
• Carry any needed necessary licensing

• No financials needed
• No title insurance
• No junk fees
• 5 to 8 draws per house (no fees for inspection)
• BK and/or Foreclosure OK if clean in the last 12 months
• Decent Credit
• Need General Liability Insurance and Builders Risky Policy
• You pick the appraiser

Terms:

• SFH Detached and Attached Townhomes
• 70% of After Construction Value
• 11% interest only (interest charged only on what $$ are drawn)
• 12 month term
• 5.5 points origination
• If own lot free/clear, no down-payment needed
• If lot not owned free/clear, then Builder Deposit of 6-12% needed (refunded at 90% completion)
• Construction MUST start immediately after closing

[email protected]