New Construction – Norwalk, CA
Loan Type: | Cash Out |
Investment Type: | New Construction |
Property Type: | 2-4 Units |
Loan Amount: | $1,30,8566 |
Loan Term: | 18 months |
LTC: | 75% |
Interest Rate: | 8.50% |
Alta provided financing for the borrower to tear down the existing structure and build 4 unit townhome development in Norwalk, CA. Alta was able to refinance this project with a new construction loan at 75% LTC for 18 months, providing the borrower with the liquidity they needed to go vertical.