Finance speculative residential builds from lot acquisition through certificate of occupancy. Structured draws, no prepayment penalty, and the flexibility to build and sell on your timeline.
A spec home is a residential property built without a pre-committed buyer. The builder identifies the lot, designs the home, and constructs it to sell on the open market. It takes capital, experience, and the right lending partner to execute consistently.
Our spec home construction loans provide the leverage you need to move from lot acquisition through vertical construction and into the sale. Funding is released through a draw schedule tied to construction milestones, so you only pay interest on what you've drawn. This keeps your carrying costs predictable and your capital efficient.
Unlike conventional lenders, we underwrite based on the project and the builder, not just the borrower's personal balance sheet. If the deal makes sense and you have the track record to back it up, we can move quickly. Learn more about how we measure leverage using LTC vs. LTV.
$150,000 to $5,000,000 per loan. Multi-loan structures available for builders running multiple specs.
12-18 months with extension options
As fast as 21 days
Milestone-based draws, funded as fast as 48 hours
Our spec home construction loans are designed for experienced builders who know their market and have a track record of delivering completed projects on time and on budget.
Building your first spec home? See our first-time builder construction loan program for builders with fewer than 5 completed projects.