Tiller Hill Capital has closed a refinance of a Fresno apartment property. The refinance allowed the owner to lower their interest rate and to take cash out to make another investment. Rates were fixed for 10 years on a 30 year amortized loan with a declining prepay penalty. Many lenders are still not making loans in Fresno and other central valley areas. However, Tiller Hill Capital was able to secure financing that achieved the owners objectives.