Spec Builder Line of Credit
Unlock the full potential of your construction projects with the Spec Builder Line of Credit from Town Square Financial. Tailored specifically for builders and developers, this financing solution offers up to $5,000,000 in credit for a wide range of residential real estate projects including single-family homes, duplexes, triplexes, quads, and multifamily buildings. With terms designed to maximize your financial flexibility and project scalability, our line of credit is the strategic choice for long-term capital access.
Benefits Of A Spec Construction Loan
Maximize Your Project Budget
Benefit from up to 100% financing of eligible costs, allowing you to undertake larger projects or multiple builds simultaneously without extensive capital outlay.
Continuous Capital Access
Our revolving credit structure enables you to borrow, repay, and reborrow funds, providing ongoing flexibility throughout your project's lifecycle..
Partner with Industry Experts
Work with a dedicated representative who understands your needs and supports your projects from start to finish, ensuring you have a reliable point of contact at all times.
Spec Construction Line of Credit Overview
Our Spec Builder Line of Credit is crafted to support your projects from the ground up, providing you with the capital you need when you need it:
● Interest Options: Choose from a floating rate tied to the prime rate plus a competitive spread, minimizing interest costs on unused funds.
● No Hidden Fees: Limited to just 2.5% over five years, with no prepayment penalties or required reserve accounts, keeping your costs transparent and straightforward.
● Quick Access to Funds: Benefit from same-day draws, allowing for immediate response to project demands and efficient management of construction timelines.
We Lend Nationwide
Town Square Financial proudly extends its services to 44 states across the United States, all from our home base in San Antonio, TX. This expansive coverage ensures that whether you're flipping houses in California, refurbishing townhomes in New York, or expanding a rental portfolio in Florida, our financial solutions are accessible and tailored to meet diverse market conditions. Our San Antonio roots enrich our national presence, blending deep local expertise with a broad understanding of national real estate trends, ensuring you receive knowledgeable support no matter where your investments take you.
FAQ
What types of properties are eligible for the Spec Builder Line of Credit?
The credit line covers a broad range of residential properties, including houses, duplexes, triplexes, quads, and multifamily residences up to five units and more.
What are the terms for interest payments?
Interest is charged only on the funds utilized, with options for non-monthly payment schedules to better align with your project's cash flow.
How quickly can I access the funds once approved?
Funds can be drawn the same day as requested, ensuring you have capital exactly when your project needs it.
Are there any geographical restrictions for accessing the Spec Builder Line of Credit?
Please contact us directly for specific geographic eligibility, as restrictions may vary based on the project location and scope.