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  • What banks do financing on the wholesale side for spec homes?

    May 28, 2010 by  
    Filed under Banks

    I have a friend who is a builder and would like to use me for his mortgage broker. I have no problem finding banks who will do financing for owner occupied builder programs, but nothing for spec homes. A lot of the banks offer spec programs on the retail side, but I’m having trouble finding it wholesale. Thanks!
    I do know what a spec home is
    My rep at Indymac said that they only do owner occupied construction, but maybe there is another dept she’s unfamiliarr with? I’ll ask her again. Thanks!


    Comments

    One Response to “What banks do financing on the wholesale side for spec homes?”

    1. Leo F on May 28th, 2010 1:31 am

      I don’t think you know what is spec home is. A spec home is just a home that is build in speculation of a buyer and was not a custom built home. 98% of all homes built are spec homes.

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