Bridge Loans for Builders: The Complete Guide to Short-Term Project Financing

In construction, time and money are very important. When buying property, you want to be able to act fast. Opportunities can show up quickly. A lot hits the market, a deal becomes available or a..

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Topics: Builder Financing

Spec Line of Credit: A Complete Guide for Builders Managing Ongoing Construction Projects

Managing multiple builds at the same time changes how you think about financing. It presents new and unique challenges. If you’re a builder running more than one project, you already know the..

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Topics: Builder Financing

Spec Home Loans: Complete Guide to Construction Financing for Builders

Building spec houses without guaranteed buyers may require a different approach to construction financing. In a competitive housing market, where a shortage of desirable inventory may create..

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Topics: Spec Homes

Spec Construction Loans: A Spec Line of Credit Is Worth the Paperwork

If you regularly build new construction homes on a Spec or Pre-Sale basis, it’s likely that you’ve worked with different lenders. While there are many kinds of loans available for new construction,..

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Topics: Spec Homes

Spec Homes and Pre-Sale Homes: Relative Benefits for a Spec Builder

In the world of new home construction, there are important differences between home types, and knowing those differences (and what they entail) is important when traversing new home building..

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Topics: Spec Building Spec Homes Pre-Sale Construction

Spec Construction Success: Insights for the Investor Builder

Spec construction is speculative – it’s a property built without a buyer already lined up. There is risk and potential reward. A spec property probably isn’t a long-term investment; many projects are..

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Topics: Spec Homes investor

How Is a Spec House Different From Other Kinds of House Construction?

When it comes to new construction, there are several kinds of residential builds that builders may consider. One of those, the spec house, provides interesting opportunities and challenges. What is a..

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Topics: Spec Homes

How Private Lenders Compare to Bank Lenders for a Spec Loan

Builders looking for ways to fund new construction projects, like spec or pre-sale home building, may consider financing using a private lender. While it is one way to get a spec house construction..

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Topics: Spec Homes Construction Loans

Construction Loan Terminology: What It Means and Why It's Important

If you’re thinking of applying for a construction loan, there is a lot to consider, and while doing your research, you may run into some unfamiliar terms. Below is an explanation of some construction..

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Topics: General Contractor Construction to Permanent Appraisal Spec Loans Down Payment Draw Construction Loan Terminology Interest Only Construction Only Construction Loans Pre-Sale End Loan Construction

6 Tips to Prepare for Your Spec Construction Loan Application

Most builders constructing spec houses want to optimize their own capital . So they seek funding with a spec construction loan. Most or all of the money to build a house can come from a lender. A..

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Topics: Construction Loans

Common New Construction Appraisal Problems and How to Handle Them

Most lenders financing new construction require an appraisal to determine your project’s value. Unlike appraisals for existing structures, a new construction appraisal is essentially a third-party..

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Topics: Construction

How Do Spec Home Builders Make a Profit?

A “spec house” is a new home built on a speculative basis, created with the intention of selling but with no buyer lined up in advance. Known also as “move-in-ready” or “inventory” homes, these..

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