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| Speculative construction loans are available to builders and developers. |
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Speculative construction loans are used for construction of 1-4 single-family residences or development of raw land for residential lots without prearranged permanent financing. The goal is to build and sell the house within a reasonable amount of time to make a profit.
Residential property 12 months term.
Commercial property 18 months term.
| Condominium |
< 80% |
50% |
| 1-4 Family Residential |
< 80% |
N/A |
| Land Development |
< 75% |
N/A |
| Office Buildings |
< 75% |
N/A |
| Shopping Center/ Retail Center |
< 75% |
60% |
| Warehouse |
< 75% |
N/A |
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business checking
commercial lending