The builder spec home loans are a convenient way to get your hands on the cash to complete the home even before you have a buyer lined up. With real estate sales in the stratosphere these days, that building will not be on the market long, so getting the builder spec loans should not be an issue.
The benefits to getting these type loans are numerous, and these are just some of the reasons to give us a try today:
- There will be no third-party underwriters involved with the builder spec loans process. These third-parties tend to slow down the process and cause unnecessary delays that make it problematic to move forward in a timely manner. Without this piece of the puzzle, the application loan approval process moves along quickly.
- On the majority of these builder and construction spec loans, the interim closings are within 30 days of the receipt of plans and final contracts. This allows the applicant to move on other properties or focus on other parts of their business.
- For those builders or investors who will be making several property purchases on one lot, the ease of simultaneous closings and interim financing help move things along in a timely manner.
- The entire loan process is transparent, and everything concerning the financing is handled in-house.
- Perhaps the biggest advantage when you are getting the builder spec loans is that you are dealing with just one service, one originator, and that means only one relationship. Regardless if you are getting a permanent or interim loan, the advantage of only one relationship means any and all issues are handled quickly and there will be no delays in trying to correspond and get answers from an outside source.
- Most investors and builders looking for builder spec loans are wearing a number of hats, The last thing they have time for is a complicated loan application or a loan process that requires their attention what seems like every hour. Not only are all the loans handled by one team in one office, there are easy loan approvals. flexible draw schedules, and there will never be any retainage hold-backs.
As you can see, the advantages to reaching out today to get a builder spec loan are numerous. Best part, we do all the work, so simply give us a shout and we will get all the documents in order to speed this process up for you.