2nd Mortgage Line of Credit for SFR in Palo Alto, California

Funded by Stonecrest Financial

$820,000

Deal Details

Private Loan Type

2nd Mortgage

Approx. Funding Date

01/22/2018

Property Type
Single Family Residence
Property City

Palo Alto

Property State

CA

Lien Type

2nd Mortgage

Payment Type

Interest Only

Loan-to-Value

59%

Building Square Footage

1,436

Lot Square Footage

7,345

Deal Summary

Stonecrest Financial, a direct California private lending firm, funded a $820,000 2nd mortgage line of credit for a single-family home in Palo Alto, California. Our Borrower is an active real estate investor who wanted to take advantage of our Line of Credit product for other real estate projects. The combined loan-to-value is 59%. This 1-story home has 3 bedrooms and 2 bathrooms. Built in 1959, it is approximately 1,436 sqft and sits on a 7,345 sqft lot. The home has been completely remodeled. The property has refinished wood flooring throughout, granite kitchen counters, and crown molding. This SFR line of credit loan was funded in January 2018.

Funded By

Stonecrest Financial

Bridge Loans & True Revolving Line of Credit in 1st or 2nd Position