SPECULATIVE CONSTRUCTION LOANS
This is for the Professional Home Builder, Contractor or
Developer who needs their project off the ground fast in the USA.
What a Builder wants to know about our SPEC loan:
24/7 online draw request.
Financing up to 90% of total project cost.
Loans up to 80% loan to value.
Loans up to 1.5M, no loan committee approval needed on loans less than 1M
Up to four loans to the builder within the subdivision, market or neighborhood.
Lot draws up to 60% of loan value.
Land equity and prepaid cost can be used as a downpayment.
No DTI ratio calculated.
Corporations, Partnerships and LLC's OK with personal guarantees by principal(s).
What it takes for a builder to qualify for a SPEC loan:
680 middle credit score
10% post-closing liquidity of the total loan amount.
Minimum GPM (gross profit margin) of 15 percent.
Full documentation only.
Only approved builders with five+ years experience in the building/marketing of residential SFR's are acceptable as are always GC's.
Miami Beach, FL.
Tele = 786 704 7828
Copyright (2011) Elite Prefab Homes All Rights Reserved
Elite Prefab Homes
Elite Prefab Homes
THIS PROGRAM IS
ON HOLD, FOR NOW.
