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.