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Spec Builder offers experienced investors and residential (1 to 200 units) builders financing for ground-up construction and lot acquisition.  

Urban, suburban and other locations with appraisals not rural 

No upfront fees, tax returns or income verification required. 

Eagle Commercial Funding Capital Corporation is a Direct Private Commercial Lender in 44 States. We are funded by private money, hedge funds, FHA-HUD, FNMA and FREDDIE MAC. 

Fast in-house loan servicing, construction management and draws  

Nationwide (except: North & South Dakota and Vermont) 

Minimum loan amount: 500,000 for 1-4 units; $500,000 for 5+ units 

Maximum loan amount: $50+ Million per property 

Credit requirements: 

  • 660+ mid FICO credit score 
  • No minimum tradeline  
  • We use highest middle score for multiple sponsors
  • No bankruptcy, foreclosure, DIL, modification or short sales last 4 years 
  • Mortgage lates: no 30-day lates last 12 months or 60-day lates last 48-months 

Competitive fixed interest rates 

Interest only paid on drawn balance 

No prepayment penalty 


  • 3 completed projects last 3 years up to 85% LTC to 75% ARV;  
  • 2 completed projects last 3 years up to 85% LTC to 70% ARV; 
  • 5 completed projects last 3 years up to 70% LTC to 70% ARV;  
  • 2 completed projects last 3 years up to 65% LTC to 70% ARV for 5-9 unit-properties; 

Finance 100% of budget including equity up-front and soft costs   

Initial disbursement: Amount remaining after minimum borrower equity met. Not to exceed 75% of land cost (purchase/unseasoned refi) or Value of Land (seasoned refi) 

LTC cost basis determination: 

  • Purchase: Lesser of Purchase Price or As-Is Value of Lot 
  • Unseasoned Refinance (<180 Days Ownership): lesser of purchase price or as-is value of lot 
  • Seasoned refinance (180+ days ownership): as-is lot value  

Term: 12, 18 or 24-months  

Cash-out: no limit or seasoning 

Loan count maximum:  

  • Experience: 5+ completed projects last 2 years: 5; 2+ units: 2 
  • Experience: 2-4 completed projects last 2 years: 2; 2+ units: 1 

Experience on title for projects started, built, sold or refinanced in the last 2 years 

  • 2-4 completed last 3 years: 2; 2+ units: 1 
  • 5+ completed last 3 years: 5; 2+ units: 2 

Appraisals: hybrid/desktop under $1 million  

Origination: See your PRE-APPROVAL Term Sheet  

Required experience 2+ completed builds (started and sold or refinanced in last 2 years; 5+ completed builds for 5-9-units) 

Ineligible properties: condos (case by case), rural, mixed-use, manufactured, modular, log homes, farms, storage facilities, commercial and land 

Vacation properties near beaches, lakes or mountains not supported by larger cities, economies besides tourism 10% below max LTC.  

Required reserves and liquidity: 

  1. Experience: 2-4 investment properties last 2 Years: 
    12 months reserves + cash to close + 10% of holdback + borrower funded portion of budget (equity shortage)  
  1. Experience: 5+ investment properties in last 2 years: 
    6 months reserves + cash to close + 10% of holdback + borrower funded portion of budget (equity shortage) 
  1. Liquidity verification: most recent statement from checking, savings, money market CD’s, and brokerage accounts; must be complete statements — no online screen shots 

**Processing fee paid at closing: $1295 at closing for 1-4-unit properties; $1495 for 5+ units 

Foreign nationals not eligible 

From initial application to final payoff, we’re here for you… 

To submit your online loan request, click the blue GET STARTED Link for PRE-APPROVAL within 48 business hours. No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks are required for PRE-APPROVAL. 



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