Cetan Funds recently funded another spec home construction loan for residential ground-up construction of two new homes in St. Helens, just north of Portland, Oregon. The developer and his general contractor are building two new spec homes. With high-quality construction and high-end finishes, these homes will be near the top of a hill in a new subdivision development. The local market is incredibly strong right now as residents from the city of Portland migrate out of the city to the suburbs. Construction is progressing well despite recent spikes in material costs. The homes will be finished and listing sometime this summer.
Loan Purpose
Location
St. Helens, Columbia County, Oregon
Loan Terms
$745,000 at 11.00% interest for 12 months
