What spec financing covers
Spec loans can cover lot acquisition and vertical construction for homes built to sell. Funds are released in draws after inspections confirm each stage, and the loan is repaid when the home sells.
What lenders want to see
- Your building track record and completed projects
- Plans, budget, and a realistic schedule
- Comparable sales supporting the finished value
- Your cash investment and reserves
Why work with a broker
Spec lending terms vary widely. Through Barrett Financial Group, Greg compares lenders on leverage, rate, fees, and draw process, so you aren't locked into one bank's appetite for Arizona construction.
Frequently asked questions
Do I need building experience for a spec loan?
Most lenders want to see completed projects. Newer builders may qualify with more cash invested or an experienced partner.
Can I finance several spec homes at once?
Some lenders offer lines or multiple loans for builders. Greg can review your pipeline and match the right structure.
Information is general and current as of November 2026. Program availability, terms, and limits change; Greg confirms what applies to you.