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Borrow With ALFIE

Loan Programs

We focus on making Spec financing as simple and straightforward as possible.


  • We are not bankers, we are Real Estate people.

  • ALFIE provides simple spec home financing.

  • ALFIE’s common sense approach allows for fast closings and fast construction draws.

*ALFIE does not provide loans on owner occupied residential properties, second homes or properties occupied / rented to family members.
Use the ALFIE Cost Calculator
This worksheet assumes a 9-month construction period with 7 equal monthly draws and a 2 month hold period with the full loan amount drawn.
Our Team

We are not bankers.

We’re Real Estate People

We provide simple spec home financing and a common sense approach that allows for fast closings and fast construction draws.

The ALFIE Process


Complete the CONTACT US/APPLY NOW form shown above. Or call us at (828)776-8632 to connect with a loan originator.


An ALFIE loan originator will answer your questions about your project and our loan programs.


If ALFIE seems like the right fit for your project, we will email you a link to our simple application packet and a secure upload link to drag and drop the application to our secure server.


ALFIE will then process your loan application, order the valuation report/appraisal and issue a loan commitment letter.


Typical 2-3 week closing timeline (subject to borrowers attorney’s closing schedule).

Underwriting Guidelines

At ALFIE we primarily underwrite the collateral property/project. However, we also consider the following criteria:
  • All ALFIE loans are interest-only based on funds drawn. The borrower should provide evidence of their ability to service the monthly debt.
  • ALFIE requires an initial credit check for first time borrowers.
  • First time borrowers are required to provide a personal financial statement.
  • Borrowers should have sufficient experience in real estate development and/or investment.
  • ALFIE only makes First Lien Position loans and does not allow second position loans behind ALFIE.
  • Owner Occupied Residential properties will be NOT be considered for financing.

Spec Loan Terms

Streamlined Process
Up to 100% Financing (including soft costs)
12 Month Term
Builder/Borrower Owns Lot
2% Origination Fee (can be rolled in to loan at closing)
12% Interest rate charged only on Funds drawn
BPO required (no appraisal requirement)
Tax Returns not required
Credit check & Personal financial statement required for first time borrowers
Fast/simple draw processing (this means quick!)
Building Permits required to close

Max Loan Amount: 65% LTV (Loan to Value) based upon BPO value (Non-owner occupied properties only)