Spec Money | Builder Construction Loans

Spec Buyer, Builders & Developer Loans

Nationwide Building & Construction Loans in All 50 States
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This is only a request for a application - It does not constitute an application with SpecMoney until a Loan Officer issues a Loan Service Agreement.
Are you a current land owner ?  Yes, No
 Applicant Information
Construction Loan Requested*
Purpose of Construction Loan
 Primary Borrower  Co-Borrower
First Name*
First Name*
Last Name*
Last Name*
Social Security Number:
- -
Social Security Number:
- -
Date of Birth
- -
Date of Birth:
- -
Home phone
Home phone
Work phone
Work phone
 Property Information
Residential  Commercial  Vacation Home
 Subject Address
Zip Code 
Names on Deed 
Land Value
.Yearly Taxes ($) 
Insurance ($) 
Build on Existing Owned Land
Orig. Purchase Date
Orig. Purchase Price ($)
Present Market Value ($)
1st Mortgage Balance ($)
2nd Mortgage Balance ($)
1st Mortgage Holder
Interest Rate
2nd Mortgage Holder
Interest Rate

Current Payment ($)

Current Payment ($)
Include Taxes and insurance ?
Yes No
Include Taxes and insurance ?
Yes No
Build On New Land To Be  Purchased
Have you found the  land you want to purchase ?
Yes No
Purchase Price:
Down payment:
Are you in Contract?: Yes No Estimated Closing Date:
Source of Funds: Seller Concession:
 Applicant Employer  Co- Applicant Employer
Income Annual ($):
Income Annual ($):
Self Employed ?
  Self Employed ?
Additional Income ($):
Additional Income ($):
Best time to call:
How did you find our site?
How would you rate your credit?:

Do you know your credit score?:
How would you rate your mortgage/rental history:

* I/We hereby give our consent to SpycMoneu, to prequalify our inquiry. To become an active application, a loan agreement with SpecMoney Is Required. If pre-qualified, a loan application may be recommended, and a loan officer will contact you. SpecMoney, may obtain any and all information concerning a credit application, obligations and all other credit matters which they may require in connection with an application for a construction loan. This form may be reproduced or photocopied and a copy shall be as effective consent as the original which we have submitted.


Welcome to SpecMoney!

SpecMoney.com is the nationwide resource center for builder finance for residential and commercial construction!

The process of locating, financing and developing spec properties has never been easier than it is with the help of online resources. Commercial Construction and Spec Residential Construction Financing funds are available in abundant supply. Builder Construction Loans are available at competative interest rates. If you are seeking construction financing as a builder, or assisting clients with the obtaining of funds for construction or development of real estate for investment purposes, please enjoy our site as it is full of resources for your construction or development project. Spec houses, spec construction, and spec development projects need expertise to succeed.


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Commercial Construction Loans. Comercial Financing.
Condo Conversion loans... What you
should know.
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Spec home financing, spec financing, builder financing. Developer financing. Builder loans.
Commercial Construction Lending Vs SBA Financing

Looking to build a commercial structure for your business? The majoriy of commercial construction loans obtained by owner users is done with commercial financing. Also available is SBA financing. SBA financing sometimes gets a bad name in the industry for the perception of a high turn down rate. In fact there are specific types of SBA construction loans that succeed more frequently than others. Examples of successful SBA construction loans that fund include loans for tested franchises. Non franchise businesses have more to prove.. small businesses with a proven track and positive earnings for a number of years, good credit are likely to be approved. However individuals may be asked to pledge real estate collatoral. That sometimes deterrs business owners from taking a risk when the risk is shared. So think carefully before embarking any venture that may put your existing assets at risk. Medical providers (physicians, dentists, etc) are approved at a higher rate for SBA commercial construction for the construction of their own commercial space.

For more information on an SBA appilication, for commercial construction, contact us today.

Traditional commercial construction financing can be obtained by qualifying individuals who have a good (not neccessarily perfect) credit history, and have the ability to put a minimum of 30% into the transaction even if counting existing land owned as the equity portion. If seeking commercial construction financing, you will need to be invested into the project or have an equity partner who is.

Hotel Financing

Construction or Purchase of New Hotels. Finance a flagged hotel with SBA finanincing with up to $10,000,000 or begin Hotel Financing
new construction financing up to $50,000,000 for experienced developers.

Vacation Home Financing. Second home construction financing.
Second Home / Vacation Financing Construction Loans.... What you need to know..
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SpecMoney Rep! >

Real Estate
Investor Resources

Frequently Asked Questions

Q. What states does SpecMoney work in?

A. Our programs are for all 50 states

Q. How much of a down payment is needed when buying land and constructing new property?

A. There are a few different programs. Choosing the right construction loan program for you or your company will be based on key factors. The price of the land, the cost of construction. Also the end selling price will be factors affecting the loan to cost ratio of your project. The end selling price will affect your construction loan to value ratio.

We use a few different ratio's to determine eligibility. We offer tradtional financing programs which means you usually need to have at least 35% into the deal so to speak between equity, and or cash. So if land is $100,000 and construction costs are $100,000 - We might not offer more than $140,000 toward the project.

There are US insured FHA 203 k programs designed for residential builders that require less of a down payment, but that is not a program we offer.

SpeMoney uses two primary construction loan programs currently. One in which the interest rate is very low, only today starting in the 7% range. The other is for commercial or short term loans. Rates begin in the 8.5% to the 10.5% range. Private loans are asset based more than credit/income and range between 12 - 13.99%. A conventional construction loan will typically not exceed 65% of the cost of the land and construction and or 65% of the final end value.

Traditional progams we offer are popular as you only pay interest on the portion advanced. Exceptions are in cases where a private money invesment loan may be sought when a loan does not qualify for our regular programs. The loan to values are less than the standard programs - The maximum private money loan for a construction property might be 50-65%. This might work for someone who owns land outright and only needs construction money... but cannot qualify with income/ credit verification standards.

Q. Do you charge up front fees for construction loans?

A. When we initially consult with a client, no up front fees are expended. We fully review what is sent and work with what you present at no cost to you. Typically we like to see an application by all titled partners a tri bureau credit report, property information, and construction information ie: type of construction, size, cost per square foot, builder informtion. We submit it to an underwriter if it appears to qualify. After preliminary review we will based on those factors obtain a term sheet. If acceptable we will proceed to processing.

Later, the cost of ordering reports, analyzing and processing a construction loan (primarily the property value, permits, construction budget, title reports, legal drawing of documents to close/fund etc) will be expedited. The costs of the reports and processing are the expense of the applicant.

Standard fees will include the cost of a site inspection, possbile appraisal, and nominal processing fee to offset the cost of ordering title reports and other expenses in conjunction with your loan. We typically provide you an approval that will specify costs after we have initially reviewed your file, and have received a term sheet from an underwriter. Underwriters represent either one of our private investment partners, or an institutional licensed loan buyer licensed to do business and currently actively funding in your state.

We apply a very strict rule to determining if and when our clients are offered a term sheet, and asked for a fee for due diligence, which is the above described analysis. Typically the expenses and a minor processing fee are all that will be expended during the application process. Only bonafide lenders with a proven funding track record, will partner with Spec Money in funding a transaction. In NY our partner /associates often fund directly. And if a private loan is offered, a sight visit might be done for no cost up front, at all, and perhaps only an acceptance fee to the attorney to draw docs (set up a closing). That fee often exists to not waste a lawyers time and prevent no shows. It has happened so our policy is to let the investor decide what to offer and our clients to decide if it is what they deem fair.

Private loans have been made with our assistance by individual investors who are simply retired and looking to earn a good return for putting up risk capital. They are always reputable people and work only with attorneys and financial consultants etc. We work hard to bring the best offerings to those seeking construction loans for a speck house or commercial construction project in and around NY, NJ, Long Island, and also throughout the US for instititional fundings.

Q. Could I lose money even after getting an approval?

A. There are expenses incurred in both the construction process as well as financing such as property appraisal, title insurance abstract, loan processing. If the appraisal and financials are qualified, then the loan will usually fund provided permits are in place etc.

However if there is any serious material difference in a) value of the property b) your credit and income
c) legal matters affecting you or the property, then it may result in a denial and withdrawal of the terms. Therefore it pays to be forthright and upfront with your representative and disclose pertinant facts. It is the time of our professionals and your money on the line.. so it pays to be honest. Always disclose additional loans that may encumber a property, and credit snaffus that might cause delays down the road. Also in some cases financials do show losses, but it pays to send financials in early on to alleviate dissapointment. The application has to be able to show you can afford to complete the project and repay the loan.

Q) Do you have no income check construction loans? A) Yes but for a stronger loan to value.. ie: 50% down, or owning the land sufficiently to represent at least 50% equity in the land plus construction cost ratio. etc.. or cash into the deal etc. However the underwriter will still look to see the applicant is capable of repaying and highly unlikely to default.

If credit is not established, it might pay to consider working with a partner with strong credit.

Q) Do you accept loan applications from mortgage bankers or loan consultants?

A) Yes. SpecMoney receives referals directly and from other traditional lenders frequently. We are happy to list you on the approval as a broker, provided your client has signed an agreement agreeing to the terms of your agreement including a specified origination fee, to be paid at closing. We do not suggest what a broker origination fee should be, however construction loans usually have 2-3 points typically so we suggest you keep that in mind. Typical origination fees range from 1-2 points with most brokers, depending on the amount of work they have provided on a transaction.

Terms agreed to ahead of time may be disclosed on the initial term sheet, and collected at closing on behalf of the agent/broker.





Browse a Sample of Commercial Construction Loan Programs in these states:

  • Alabama Commercial Construction Loans
  • Alaska Commercial Construction Loans
  • Arizona Commercial Construction Loans
  • Arkansas Commercial Construction Loans
  • California Commercial Construction Loans
  • Colorado Commercial Construction Loans
  • Connecticut Commercial Construction Loans
  • Delaware Commercial Construction Loans
  • District of Columbia Commercial Construction Loans
  • Florida Commercial Construction Loans
  • Georgia Commercial Construction Loans
  • Hawaii Commercial Construction Loans
  • Idaho Commercial Construction Loans
  • Illinois Commercial Construction Loans
  • Indiana Commercial Construction Loans
  • Iowa Commercial Construction Loans
  • Kansas Commercial Construction Loans
  • Kentucky Commercial Construction Loans
  • Louisiana Commercial Construction Loans
  • Maine Commercial Construction Loans
  • Maryland Commercial Construction Loans
  • Massachusetts Commercial Construction Loans
  • Michigan Commercial Construction Loans
  • Minnesota Commercial Construction Loans
  • Mississippi Commercial Construction Loans
  • Missouri Commercial Construction Loans
  • Montana Commercial Construction Loans
  • Nebraska Commercial Construction Loans
  • Nevada Commercial Construction Loans
  • New Hampshire Commercial Construction Loans
  • New Jersey Commercial Construction Loans
  • New Mexico Commercial Construction Loans
  • New York Commercial Construction Loans
  • North Carolina Commercial Construction Loans
  • North Dakota Commercial Construction Loans
  • Ohio Commercial Construction Loans
  • Oklahoma Commercial Construction Loans
  • Oregon Commercial Construction Loans
  • Pennsylvania Commercial Construction Loans
  • Rhode Island Commercial Construction Loans
  • South Carolina Commercial Construction Loans
  • South Dakota Commercial Construction Loans
  • Tennessee Commercial Construction Loans
  • Texas Commercial Construction Loans
  • Utah Commercial Construction Loans
  • Vermont Commercial Construction Loans
  • Virginia Commercial Construction Loans
  • Washington Commercial Construction Loans
  • West Virginia Commercial Construction Loans
  • Wisconsin Commercial Construction Loans
  • Wyoming Commercial Construction Loans

Browse a Sample of Commercial Construction Loans in these major markets:

Browse a Sample of Builder Loans & Spec Loans Loan Programs in these states:

  • Alabama Builder Loans & Spec Loans
  • Alaska Builder Loans & Spec Loans
  • Arizona Builder Loans & Spec Loans
  • Arkansas Builder Loans & Spec Loans
  • California Builder Loans & Spec Loans
  • Colorado Builder Loans & Spec Loans
  • Connecticut Builder Loans & Spec Loans
  • Delaware Builder Loans & Spec Loans
  • District of Columbia Builder Loans & Spec Loans
  • Florida Builder Loans & Spec Loans
  • Georgia Builder Loans & Spec Loans
  • Hawaii Builder Loans & Spec Loans
  • Idaho Builder Loans & Spec Loans
  • Illinois Builder Loans & Spec Loans
  • Indiana Builder Loans & Spec Loans
  • Iowa Builder Loans & Spec Loans
  • Kansas Builder Loans & Spec Loans
  • Kentucky Builder Loans & Spec Loans
  • Louisiana Builder Loans & Spec Loans
  • Maine Builder Loans & Spec Loans
  • Maryland Builder Loans & Spec Loans
  • Massachusetts Builder Loans & Spec Loans
  • Michigan Builder Loans & Spec Loans
  • Minnesota Builder Loans & Spec Loans
  • Mississippi Builder Loans & Spec Loans
  • Missouri Builder Loans & Spec Loans
  • Montana Builder Loans & Spec Loans Loans
  • Nebraska Builder Loans & Spec Loans
  • Nevada Builder Loans & Spec Loans
  • New Hampshire Builder Loans & Spec Loans
  • New Jersey Builder Loans & Spec Loans
  • New Mexico Builder Loans & Spec Loans
  • New York Builder Loans & Spec Loans
  • North Carolina Builder Loans & Spec Loans
  • North Dakota Builder Loans & Spec Loans
  • Ohio Builder Loans & Spec Loans
  • Oklahoma Builder Loans & Spec Loans
  • Oregon Builder Loans & Spec Loans
  • Pennsylvania Builder Loans & Spec Loans
  • Rhode Island Builder Loans & Spec Loans
  • South Carolina Builder Loans & Spec Loans
  • South Dakota Builder Loans & Spec Loans
  • Tennessee Builder Loans & Spec Loans
  • Texas Builder Loans & Spec Loans
  • Utah Builder Loans & Spec Loans
  • Vermont Builder Loans & Spec Loans
  • Virginia Builder Loans & Spec Loans
  • Washington Builder Loans & Spec Loans
  • West Virginia Builder Loans & Spec Loans
  • Wisconsin Builder Loans & Spec Loans
  • Wyoming Builder Loans & Spec Loans

Browse a Sample of Commercial Real Estate Financing by Property Type:

  • Agricultural Property Financing & Mortgage Loans
  • Buildings Financing & Mortgage Loans
  • Business Properties Financing & Mortgage Loans
  • Day Care Properties Financing & Mortgage Loans
  • Development Land Financing & Mortgage Loans
  • Duplexes Financing & Mortgage Loans
  • Farms Financing & Mortgage Loans
  • Gas Stations Financing & Mortgage Loans
  • Golf Courses Financing & Mortgage Loans
  • Health Care Property Financing & Mortgage Loans
  • Hotels Financing & Mortgage Loans
  • Industrial Property Financing & Mortgage Loans
  • Investment Property Financing & Mortgage Loans
  • Land Financing & Mortgage Loans
  • Marinas Financing & Mortgage Loans
  • Mobile Homes Financing & Mortgage Loans
  • Motels Financing & Mortgage Loans
  • Multifamily Apartments Financing & Mortgage Loans
  • Net-Leased Property Financing & Mortgage Loans
  • Office Condos Financing & Mortgage Loans
  • Office Property Financing & Mortgage Loans
  • Ranches Financing & Mortgage Loans
  • Restaurants Financing & Mortgage Loans
  • Retail Property Financing & Mortgage Loans
  • RV Parks Financing & Mortgage Loans
  • Senior Housing Financing & Mortgage Loans
  • Shopping Center Financing & Mortgage Loans
  • Vacant Land Financing & Mortgage Loans
  • Warehouses Financing & Mortgage Loans
  • Industrial Space Property - Financing & Mortgage Loans
  • Office Financing and Mortgage Loans
  • Retail Financing and Mortgage Loans
  • Shopping Center Financing and Mortgage Loans
Commercial Construction Loan by State