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Borrow With ALFIE

Loan Programs

We focus on making spec and build to rent financing as simple as possible.

Why ALFIE?

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

  • ALFIE provides simple spec home and build to rent 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 and build to rent financing and a common sense approach that allows for fast closings and fast construction draws.

The ALFIE Process

Step 1

Complete the contact form or call 828-776-8632 to connect with an originator.

Step 2

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

Step 3

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.

Step 4

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

Step 5

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:
  • ALFIE requires a credit check for first time borrowers. This a soft pull and does not affect the borrower’s credit.
  • First time borrowers are required to provide a personal financial statement.
  • Maximum loan to value ratio 65%
  • ALFIE requires borrowers purchase their lot with borrower funds.
  • ALFIE only makes First Lien Position loans and does not allow second position loans behind ALFIE.
  • Owner occupied residential properties will 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 and builder’s risk insurance required to close

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