Cetan Funds is proud to offer contractors and investors short-term residential construction loans in Eugene, Oregon. Our loans can finance up to 90-95% of project costs or up to 70-75% of the completed property value. Our residential construction loan process is fast, flexible, and in-house. You can expect to get an underwriting answer within 2-4 days of submission, and funding can occur as quickly as 7 days.
If you’re interested in residential construction loans in Eugene or if you have a project you would like to discuss, please contact us and we would be happy to see if a loan from Cetan Funds would be a good fit for you and your project.
Cetan Funds recently funded a loan for a Reverse 1031 Improvement Exchange in Eugene, OR. The borrower needed to start construction on a new single-family rental prior to closing the sale of an older rental property (i.e. the source of the 1031 exchange funds).
Cetan Funds provided a creative solution: funding a residential construction loan, secured by both properties, to a business entity established by the exchange company to temporarily hold title during the exchange period. The loan was guaranteed by Cetan’s borrower and the entity holding the newly built rental would be transferred into the borrower’s name upon completion of the reverse 1031 improvement exchange. Shortly after funding the loan, the sale of the older rental closed, and the exchange funds were transferred into the project.
Upon completion of construction and leasing of the property, Cetan will work with the borrower to ensure proper seasoning and a permanent financing solution for a long-term hold.
$400,000 at 10.99% interest for 12 months
Cetan Funds recently provided funding to an experienced builder using a spec residential construction loan to complete the construction of a spec home. The financing gave this builder the capital he needed to bring the house to market.
$175,000 at 12% for 6 months