Applicants

Applicants can hold up to ten contracts at one time, enabling them to begin more than one construction project at a time, as long as he meets the other qualifications. The terms are normally 12, 15, or 18 months, giving the home builder plenty of time to complete the project and sell the speculative house. The total amount of home builder spec home loans a person can take out at one time may equal a sum of no more than 1.5 million dollars no matter how many houses they have being built.