New Construction Loan – Norwalk, CA
Loan Type: Cash Out
Investment Type: New Construction
Property Type: 2-4 Units
Loan Amount: $1,308,566
Loan Term: 18 months
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.