Recently Funded Hard Money ADU Loan in Palmdale: $234,750 @ 10.50%, 2nd TD, Cash-Out, SFR, 65% ARV CLTV
Borrowers sought a business purpose cash-out 2nd TD which will be used to build an ADU in the back of the property. The current 1st TD is conventional 30 year fixed with Wells Fargo, has a $178,000 balance, a 3.25% rate, and is in good standing. The subject property is a traditional 2,149 SF home…