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You may have noticed the banks aren’t lending much when it comes to spec homes. So when you need a construction loan what do you do?

A spec loan means you are building on speculation. You are speculating that the property will sell once it is built. Banks are not typically comfortable with that unknown variable. There are not many alternatives when you are searching to get an Arizona construction loan. You are left with just a couple of options: individual investors and hard money loans.

A hard money lender will finance a spec home. These Arizona hard money lenders have money available and ready to loan. This is private money that belongs to a group of people that have put money in a fund to be lent toward real estate endeavors. Although, banks offer better terms and financing, when it comes to spec homes a borrower will rarely be approved.

Arizona hard money lenders are seeking projects. They will want the borrower to have the necessary permits and be close to shovel ready. Typically, they will still work with you if you are not at that point. However, to present yourself as professional it is advisable to have all permits and ready to break ground once you are approved for financing.


Generally speaking, most hard money lenders have a niche. Some deal mainly in fix and flips and some prefer construction loans. And there are lenders who have a niche, but will still finance outside their niche. It is advised to not only search for hard money lenders, but to research them and their past and current projects.

In a growing state such as Arizona, construction is on the rise. Arizona spec home financing is available through hard money lenders.

Arizona is a choice state to build spec homes; in particular, the Phoenix-Metro area. If you are a spec home builder and are in need of financing, please contact us at for more information about Arizona spec home financing

Dennis Dahlber Broker Ri CEO Level 4 Funding LLC
Dennis Dahlberg


Level 4 Funding LLC 
Hard Money Lender

Hard Money Loans

Hard Money Loan

Arizona Tel:  (623) 582-4444

Texas Tel:      (512) 516-1177

Dennis Dahlberg Broker/RI/CEO

NMLS 1057378 | AZMB 0923961 | MLO 1057378

22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

111 Congress Ave | Austin | Texas | 78701  

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

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