Builder Sold Construction Loans in Oregon
Builder Sold Loan in Oregon
Oregon’s residential construction market stretches from Portland Metro and Salem to smaller communities across the state. Normandy’s new construction mortgage program serves borrowers throughout this range — wherever your project is located.
Builder-sold construction is growing in Oregon’s expanding suburban markets, including Washington County west of Portland, Marion County near Salem, and the Bend-Redmond growth corridor.
Loan details: Loan amounts from $95,000 to $5,000,000. Up to 75% of contract price on conforming amounts; 70% for larger amounts. 12-month construction term; extensions available. Interest-only on funds advanced. Full and limited income documentation available. New builders considered. Foreign nationals may apply.
For a rate quote on construction to permanent loan in Oregon, call 800-390-7536 or visit https://normandy.com/builder-sold-loans/. Full program list: https://normandy.com/.
General Guidelines*
- Loan amounts from $95,000 to $5,000,000
- Loan amounts up to 75% of the contract price on conforming loan amounts, otherwise up to 70% of contract price. Cross collateralization considered on other properties, if needed, for maximum or greater loan amounts.
- Land purchase may be included in the construction loan. Please call for a quote.
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Full and Limited Income Documentation programs available
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings 14+/- days available if certain criteria is met)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Flexible draw schedules
- 1 to 4 family homes, refer to Commercial Construction for more than 4 units
- 12 month construction term with extensions available
- Interest only payments based on funds advanced
- New Builders will be considered
*All rates and terms subject to change without notice
Oregon Construction Market & Regulatory Overview
Oregon’s construction market is driven by sustained demand in the Portland metro, rapid growth in Bend and Central Oregon, and ongoing interest in Willamette Valley and coastal custom residential builds.
Building Code: Oregon Residential Specialty Code (ORSC), administered by the Oregon Building Codes Division (BCD).
Permitting: Permits are issued by local municipalities or directly through the state BCD for jurisdictions without local authority. The ORSC governs all residential construction statewide.
Key construction considerations in Oregon include heavy rainfall and moisture management requirements in Western Oregon, statewide seismic hazard, and wildfire risk in Eastern Oregon and communities near the Cascades. Normandy’s underwriting team works directly with borrowers — you deal with the loan officer and underwriter, not a call center.
Contractor Licensing in Oregon
Oregon requires all general contractors to be licensed through the Construction Contractors Board (CCB). License verification is mandatory before any permitted work begins.
Owner-Builder Note: Oregon allows owner-builders to construct a primary residence without a CCB license, but requires 12 months of personal occupancy following completion and limits new owner-built homes to one per year.
Loans Available in the Following States
- Alabama (AL)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Georgia (GA)
- Hawaii (HI)
- Iowa (IA)
- Idaho (ID)
- Indiana (IN)
- Kansas (KS)
- Kentucky (KY)
- Massachusetts (MA)
- Maryland (MD)
- Maine (ME)
- Michigan (MI)
- Missouri (MO)
- Mississippi (MS)
- Montana (MT)
- North Carolina (NC)
- Nebraska (NE)
- New Mexico (NM)
- New Jersey (NJ)
- New York (NY)
- Oregon (OR)
- Ohio (OH)
- Oklahoma (OK)
- Pennsylvania (PA)
- South Carolina (SC)
- Tennessee (TN)
- Utah (UT)
- Rhode Island (RI)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wyoming (WY)
Frequently Asked Questions — Builder Sold Loan in Oregon
Q: What is a builder sold construction loan in Oregon?
A: A builder sold construction loan in Oregon is financing for a builder with a signed purchase contract. Normandy funds the build in draws; the loan is repaid when the buyer closes on the completed home. The 12-month term covers construction, with extensions available.
Q: How does a new construction mortgage work for builders in Oregon?
A: A new construction mortgage in Oregon through Normandy provides draw disbursements as work progresses. Interest-only payments on advanced funds during the 12-month term. Up to 75% of the contract price is available for conforming loan amounts.
Q: What home construction financing is available for signed-contract builds in Oregon?
A: Normandy’s home construction financing in Oregon for signed contracts offers loan amounts from $95,000 to $5,000,000. Full and limited documentation programs available. Cross-collateralization on other properties considered for greater amounts.
Q: What builder financing programs does Normandy offer in Oregon?
A: In Oregon, Normandy offers the Builder Sold Loan (for committed contracts), the Builder Spec Loan (for spec builds), and the Hiring a Builder Loan (for owner-occupant construction). See all programs at normandy.com or call 800-390-7536.
Q: What is a construction mortgage loan for builders in Oregon?
A: A construction mortgage loan for builders in Oregon is short-term financing covering residential construction costs. Draws are disbursed at milestones. Interest-only on advanced funds. 12-month term with extensions available. New builders are considered.