Comite de Bien Estar recently closed on a $297,500 land acquisition loan to purchase the development site for Somerton Homes, where they will build 16 new homes in Somerton, CA. Comite was invited by the leaders of the City of Somerton to explore development opportunities in their growing city, as Comite has an long history of successful single-family development for low- and moderate-income homebuyers in San Luis, about 19 miles south of Somerton. NeighborWorks Capital will also provide financing to Comite to develop the lots and ready them for sale and home construction.
Learn more about NeighborWorks Capital’s competitively priced, fixed-rate loan capital that is available to members of the NeighborWorks network. Visit our lending solutions page for more information.
