Construction Completion Loans in Oregon
Construction Completion Loan in Oregon
Finishing an Oregon project starts with securing the right loan. Normandy’s construction completion loan is available to borrowers across Oregon, from Portland and Salem to Eugene, Bend and the coast, for projects that have already started and require funding to be completed.
Oregon’s wet climate, seismic and wildfire considerations and local zoning can add time and cost to a project already under way.
Loan amounts from $95,000 to $10,000,000. Conforming loan amounts up to $832,750 at up to 85% of appraised value on single family, owner occupied, with full income documentation. 12 month construction term; extensions available. Interest only payments based on funds advanced. Foreign Nationals are eligible.
Pre-qualify or request a rate quote using our Construction Completion Loan Form. Learn more about all Normandy Loan Programs, or call us at 800-390-7536.
General Guidelines*
- Loan amounts from $95,000 to $10,000,000
- Loan amounts up to 85% of the appraised value on single family, owner occupied, full income documentation, conforming loan amounts up to $832,750. Loan amounts over $1M, up to 80% of appraised value may be considered. Loan amounts over $6M, up to 75% appraised value may be considered
- Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 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, 5+ or Commercial Construction allowed
- 12 month construction term with extensions available
- Interest only payments based on funds advanced
- Borrower may act as own General Contractor or hire a qualified builder. No site supervisor required
Oregon Construction Market & Regulatory Overview
Oregon has active construction and renovation activity in the Portland metro, the Willamette Valley, Central Oregon and coastal communities, including ADU and infill projects.
Building Code: Oregon Residential Specialty Code (ORSC) for one- and two-family homes, and the Oregon Structural Specialty Code for other buildings.
Permitting: Permits are issued by the city or county building department. Plans must comply with the applicable code and local zoning before any permit is approved.
Key considerations in Oregon include seismic activity, heavy rainfall in western Oregon, and wildfire-prone areas. 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 most contractors to be licensed through the Construction Contractors Board (CCB). Borrowers who hire a builder should verify the CCB license number before completion work continues.
Owner-Builder Note: Oregon allows owners to build or improve their own property in certain cases, though conditions apply.
On a completion loan, the borrower may act as their own General Contractor or hire a qualified builder. No site supervisor is required.
Loans Available in the Following States
Owner Occupied
Loans available for owner occupied properties in the following states:
- California (CA)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Iowa (IA)
- Massachusetts (MA)
- Michigan (MI)
- North Carolina (NC)
- New Jersey (NJ)
- New York (NY)
- Oregon (OR)
- Rhode Island (RI)
- Virginia (VA)
- Washington (WA)
Non-Owner Occupied
Loans available for non-owner occupied properties in the following states:
- Alaska (AK)
- 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)
- Michigan (MI)
- Maryland (MD)
- Maine (ME)
- Missouri (MO)
- Mississippi (MS)
- Montana (MT)
- North Carolina (NC)
- New Jersey (NJ)
- Nebraska (NE)
- New Mexico (NM)
- New York (NY)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Rhode Island (RI)
- South Carolina (SC)
- Tennessee (TN)
- Utah (UT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wyoming (WY)
Frequently Asked Questions — Construction Completion Loan in Oregon
Q: What is a construction completion loan in Oregon?
A: A construction completion loan in Oregon is financing for a project that has already started and needs funding to finish. Normandy’s program covers residential to commercial construction and can be structured whether you just started or are just short of completing the project.
Q: What can a construction completion loan be used for in Oregon?
A: It can be used for kitchen and bathroom remodels, room additions, roof replacement, structural repairs, foundation work, full gut rehabs, home rehab projects, ADU (accessory dwelling unit) construction, and fix and flip investments.
Q: Can I act as my own general contractor in Oregon?
A: Yes. The borrower may act as their own General Contractor or hire a qualified builder. No site supervisor is required.
Q: Is a construction completion loan available for investment properties in Oregon?
A: Yes. Oregon is available for both owner occupied and non-owner occupied properties. Please call for details.
Q: How are funds disbursed and is there a minimum credit score in Oregon?
A: Funds are disbursed on flexible draw schedules, with interest only payments based on funds advanced. Loans are available to borrowers with excellent to less than perfect credit, subject to underwriting.