Tampa Bay has been one of Florida's most active new-home markets, with subdivisions spreading south through Riverview and north into Pasco County while infill builders replace older homes in the urban core. Recent storms have also put flood elevation, wind design and insurance at the top of every builder's checklist.
In short: Our top pick for ground-up construction in the Tampa area is LendingStreet. We lend to investors on 1 to 8 unit projects, from spec homes and infill replacements to build-to-rent homes, duplexes and small rental buildings, sized on loan-to-cost with inspection-based draws. LLCs borrow as standard, and if you hold the finished property we can refinance it into a 30-year DSCR loan based on rent. Get a quote with the form below or call (877) 298-1001.
LendingStreet finances real estate investors, and our construction program is designed for homes and small buildings that will be sold or rented. We review the lot, the plans, the budget, the builder and the exit, then size the loan on total project cost: land, hard costs and soft costs like plans, engineering, permits and impact or mobility fees.
Terms are set for each project. A spec home on a finished lot in Riverview, a replacement home in Seminole Heights and a new duplex near Ybor City each carry their own budget and timeline, so we underwrite them individually.
If you have a lot, plans and an experienced builder, request a quote with the form below.
A general comparison for investor builds.
| Investor need | LendingStreet | Typical bank | Typical hard money lender |
|---|---|---|---|
| Spec and build-to-rent focus | Yes, 1-8 units | Case by case | Yes |
| Sizing | Loan-to-cost on land, hard and soft costs | Often conservative | Varies; fees vary |
| Income documents | Project and builder review | Often tax returns and personal income | Usually light |
| LLC borrowing | Standard | Sometimes | Common |
| Draws | Inspection-based on an agreed schedule | Varies | Varies |
| Hold option | DSCR refinance with 30-year terms | Separate loan | Usually short-term only |
| Area | All 50 states and DC | Local | Local or regional |
In the city, infill builders work in Seminole Heights, Tampa Heights, West Tampa, Sulphur Springs, East Tampa, Belmont Heights and Riverside Heights, often replacing older block homes or building on vacant lots with new two-story homes.
In the suburbs, spec and build-to-rent activity concentrates in Riverview, Gibsonton, Ruskin, Apollo Beach, Wimauma, Brandon and Plant City in Hillsborough County, and in Wesley Chapel, Land O' Lakes, Lutz and Zephyrhills in Pasco County. Pinellas County has less vacant land and more replacement construction.
The product mix follows the buyer. Suburban spec homes tend to be three- and four-bedroom single-story or two-story block homes in planned communities, often with HOA rules that matter if you plan to rent. In the urban core, buyers and renters will pay for walkable locations, so a well-designed two-story home or a duplex on a narrow lot can make sense where zoning allows it. Check HOA leasing restrictions before you commit to a build-to-rent plan in any subdivision.
Check the flood zone and required floor elevation before you buy, especially in low-lying and coastal areas. Florida's building code sets wind design standards that affect roofs, windows and structure. In parts of west-central Florida, geotechnical testing is common because of sinkhole risk, so budget for a soils report.
City of Tampa permits cover the city; Hillsborough and Pasco counties handle unincorporated areas. Impact and mobility fees can be a meaningful soft cost.
You put in your equity first. The loan then pays for construction in stages, each released after an inspection confirms completion. A common sequence is foundation and slab, block or framing, roof and windows, rough-ins, drywall and final.
Hurricane season can interrupt work, so include schedule contingency. Our construction draw schedule calculator helps you plan stages.
This example is illustrative and not a quote.
A builder buys a finished lot for $70,000, budgets $300,000 for construction including contingency and $30,000 for soft costs, for a total of $400,000. Assume the loan is sized at 80% of total cost for illustration.
The loan is $320,000 and the builder brings $80,000. Since the lot and soft costs exceed the builder's cash, $20,000 of the loan helps fund the lot at closing and $300,000 funds construction in draws.
The home sells for $470,000. Estimated selling costs of 6% are $28,200, so net proceeds are $441,800. After the loan payoff, $121,800 remains, returning the builder's $80,000 plus $41,800 before interest, documentary stamp taxes, insurance and holding costs.
| Item | Amount |
|---|---|
| Lot | $70,000 |
| Construction | $300,000 |
| Soft costs | $30,000 |
| Total cost | $400,000 |
| Loan (80% assumed) | $320,000 |
| Builder cash | $80,000 |
| Loan funded at closing | $20,000 |
| Loan funded in draws | $300,000 |
| Sale price | $470,000 |
| Net after selling costs | $441,800 |
| Margin before interest and carry | $41,800 |
Build-to-rent is common around Tampa. Once the home is leased, a DSCR refinance can replace the construction loan, qualifying on rent with no W-2s or tax returns, a 1.0x standard minimum and a 620 minimum credit score. Seasoning varies by program.
Run the rental numbers with real costs: property tax on the new assessed value with no homestead exemption, wind and flood insurance, and any HOA. Florida documentary stamp taxes apply to deeds and mortgage notes. Confirm all of these locally.
Ask each lender these questions.
We size on loan-to-cost across land, hard and soft costs, with terms per project, and release draws after inspections on an agreed schedule. LLCs are standard. We need plans, permits, a realistic budget and a build track record or an experienced general contractor. A DSCR refinance at completion starts at $150,000 with a 1.0x standard minimum. Projects of 9 or more units go to our commercial team.
To price your Tampa project, get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet. We finance investor builds of 1 to 8 units on a loan-to-cost basis, release draws after inspections, lend to LLCs and offer a 30-year DSCR refinance for homes you keep.
Yes. We lend across Tampa Bay, including Hillsborough, Pasco and Pinellas counties, statewide in Florida, and in all 50 states and DC.
Yes. We finance 1 to 8 unit rentals, and once leased they can refinance into DSCR loans. For larger communities, see our build-to-rent financing page.
In much of the Tampa area, a geotechnical report is a smart step and is often expected. Share it with your loan officer with your plans.
Flood zone and elevation affect design cost and insurance, and insurance affects the DSCR if you hold. Check both before you buy the lot.
Only with an experienced general contractor. Projects without plans, permits or an experienced builder usually do not qualify.
Sell the finished home to pay off the loan, or lease it and refinance into a DSCR loan.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.