Journal ·
Financing a custom build in Oregon City
I have spent more than three decades originating loans in Oregon and Washington, and I still close them daily. New construction, and homes coming off a tour like the Street of Dreams, trip up buyers with the same four misconceptions every time.
1. Tour first, ask later is backwards
By the time you find the home, the market can move. Get a full pre-approval before you fall in love, so you know your number, your monthly range, and your down payment path before you make an offer. A lender can run your situation and give you a letter you can act on, not a guess.
2. New construction appraisals are their own animal
Custom and tour-built homes are appraised against their own floor plan and finishes, and the appraisal can lag the price the seller expects. Skilled originators counsel buyers on the comparable set and the contract, so the numbers line up before the bank does its work. This is exactly the kind of deal-structure guidance an active producer brings.
3. Construction and permanent can be two gaps or one bridge
Many buyers assume a standard mortgage covers everything. New builds often use construction-to-permanent financing: one closing that lets you pay as construction draws, then convert to a fixed mortgage at completion. It is worth asking your lender which structure fits, because the right answer depends on timeline, land, and builder terms.
4. The rate lock window is a choice, not an accident
For a home that still needs time (or one that just finished the tour), when you lock matters. A longer lock can protect against a move during a long escrow, while a shorter one may track the market down. A lender who still originates can map the lock to your closing date instead of hoping it works out.
None of this replaces a conversation. Every buyer's income, credit, and comfort level are different, and the loan structure should follow the buyer, not the other way around. If you are looking at a home like 14986 Jennetten Way, bring your questions and we will model a path together. I am Travis Olson, NMLS #111072, and I would be glad to help.