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.

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.

Meet Our Team

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).

Contact An Originator To Get Started

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

Visit our FAQs page for more info

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)