Ground-Up Construction Loans in FL, TX, GA, and SC: How Builders Are Getting Funded Without a Bank

If you have ever tried to get a ground-up construction loan from a bank, you already know how the story ends.

You walk in with a lot, a builder’s plan, and a vision. The bank asks for three years of tax returns, a feasibility study, an environmental report, 20% down minimum, a 700-plus credit score, 24 months of documented builder experience, and – after 90 days of processing – gives you a maybe.

Your contractor has moved on. Your lot is still sitting. Someone else built the spec home you planned.

There is a better way. Apply for a ground-up construction loan at Slate Financial and see what your project qualifies for – the application takes 3 minutes.

What Private Lenders Actually Look at for Ground-Up Construction

Private construction lenders – the lenders Slate works with – underwrite the deal, not your life history. Here is what actually matters:

• The land value and location: Is the lot in a market where the finished home will sell? FL, TX, GA, and SC are all active markets we fund in regularly.
• Your construction budget and projected sale price: Lenders want to see the after-construction value and whether the deal math holds up.
• Your exit strategy: Are you selling the spec home, holding it as a rental, or refinancing into a long-term mortgage? Each path has a viable loan structure.
• A realistic construction timeline: Draw schedules are funded on construction milestones – not all upfront. Lenders want to see you understand how the draws work.

That is the core underwrite. No committee. No 90-day wait.

How Ground-Up Construction Loans Work at Slate

At Slate Financial, we connect builders and developers with private lenders who specialize in ground-up construction. Here is the typical structure:

• Loan-to-Cost (LTC): Up to 80% of total project cost (land plus construction)
• Funding timeline: 10 to 15 business days to close in most cases
• Draw schedule: Funded in stages tied to construction completion milestones
• No bank committee: Decisions are made by private lenders who specialize in construction
• States we fund in: FL, TX, GA, SC, and select additional markets

Funding is subject to lender approval. Terms vary based on the deal, your experience, and the project location.

If your project qualifies, you can apply for a ground-up construction loan here – the application takes about 3 minutes.

The Opportunity for Spec Builders Right Now

The U.S. housing market continues to face an inventory shortage in affordable and move-up housing – particularly in the Southeast and Sun Belt states. Builders who can move fast have a real window:

• FL, TX, GA, and SC continue to see population growth and strong demand for new construction
• Lot prices in secondary markets within these states offer better margins than established metros
• A spec home at the right price point in the right market is one of the strongest real-estate plays available to a small builder right now

The challenge has never been the demand. It has always been the financing.

Who This Is For

Ground-up construction loans through Slate are built for:

• Spec builders: Developers building 1 to 10 homes per year who want to move faster and skip the bank
• Lot owners: You own land and are ready to build but have not secured construction financing
• Experienced fix-and-flip investors: If you have flipped homes and want to graduate to new construction, this is the natural next step
• Experienced contractors: Builders who want to develop their own project and keep more of the margin

What You Will Need to Get Started

To apply, have the following ready:

• The address or description of the lot
• Your estimated build cost and projected sale or appraised value
• A basic construction timeline
• Your builder or developer experience (even limited experience is fine – we work with newer builders too)

Our team reviews every deal and matches it with the right lender from our network. No upfront fees for getting matched.

Ready to Build?

If you are sitting on a lot, have a project in mind, or just want to know what your project qualifies for – start your application here.

It takes 3 minutes. Our team reviews it and gets back to you fast. No bank. No committee. No 90-day wait.

Funding is subject to lender approval. Results will vary. Past funded deals are not a guarantee of future funding.

Need Business Funding?

Slate Financial matches you with the best funding options. Apply in minutes.

Tags