CONSTRUCTION LOAN APPLICATION.
Fill this out RIGHT NOW and submit it!
We'll find out in just a few minutes what we can do for YOU!

The rule of thumb for a Spec is that you will need at least 20% into the project, however, my lenders allow 100% financing! This means that your seller can finance the lot, the lender finances the house, and all you need to contribute is closing costs!

YOU GET 100% FINANCING!**

If your seller won't help us finance the project, there are other ways, since each situation is unique, it depends on your credit and other factors. There are MANY ways to make this happen, and here are just a few:

• You own the building lot FREE and CLEAR
• Your seller will 'subordinate' to the construction loan, meaning that s/he will wait until the Spec is sold to be paid. The value of the lot is then applied as your contribution into the project.
• Cross-Collateral: we can tap into the equity of other property that you own, with a 'paper' second mortgage
• Pre-Solds with a down-payment
• A strong Co-Borrower can make your down-payment
• Home Equity Loan (on your own house or a rental property)
• Partner up with one of our 'Passive-Investors' who can obtain a higher loan amount than you are able to do based on credit

My Spec lenders are in the business of making loans, so they are Quite creative!

A typical Spec Loan for a contractor with good credit has a term of 9-months, with additional extensions available to 12-months. Of course, there are fees when you extend.

My Spec Lenders are NOT cheap, but they ARE the BEST!

REASONS

• Fill out a one-page construction loan application along with the normal Residential Loan Application (all on this site) and receive a bona-fide loan proposal in 48-72 hours;
• They will RACE you to the closing table;
• Come to me with an approved building permit, plans, specs, a budget and a lot, and close in two-to-three weeks (or sooner)!
• UNLIMITED DRAWS! Take a Draw on Tuesday, and another on Thursday if you need one.
• Fax your draw request directly to the lender and have your check overnighted to you;
• TRUE NO-DOC FINANCING - NO Financials, NO taxes, NO Bank Statements!
• Partially complete projects on a case-by-case basis;
• Panel Packages and Modular Houses are eligible!

Here is what you need to do to build a Spec Home --- FILL THIS OUT NOW: CONSTRUCTION LOAN APPLICATION

Download the THREE Forms Below:
• ~ 1. Loan Application
• ~ 2. Construction Loan Information Form
• ADOBE (print out only)
• ~ 3. Authorization Form

Supply Credit Card information on this form
• Credit Card Information/Authorization Form</li>

The rest of the required forms can be found on the FORMS page.

I will call you and tell you what I think will work best for you!
Of course, you can always call me, instead: 1-877-724-7549, Toll Free, if you have questions or if you need additional information.

As always, I look forward to working with you - NOT ONLY ON THIS PROJECT, but on all your projects to follow!

Edith M. Harris
Toll Free: 1-877-643-1203
Fax: 1-877-428-8704
EMAIL ME!

**This scenario assumes you have a 680 or higher credit score, the lot is worth 20% of the total project costs and your seller is subordinating to the construction loan. This means that they'll wait for their money and go into second position on title to the lot. Maximum loan amount is $325,000 at 80% of costs. Higher loan amounts available up to $600,000 at lower loan-to-cost percentage.

Toll Free: 1-877-643-1203 or 1-877-724-7549.
My Toll Free Fax is: 1-877-428-8704.
EMAIL
I'm here to help!

I look forward to working with you on this and all your future construction projects.