San Jose, CA
Single Family Residence
The borrower wanted to downsize his residence and so he utilized Stonecrest’s Bridge Loan product to buy his next property before selling the departing residence. We provided a loan of $1,025,000 for the purchase and secured it against both properties with a combined loan-to-value is 73.22% – a short term loan in high demand area. The purchase property is located in San Jose, California. It is a 1-story, single family home that is 1,543 sq ft, situated on a 18,511 sq ft lot. This home was built in 1954. It has 3 bedrooms and 2 bathrooms. The inside was recently remodeled. The departing property is also in San Jose. It is a 2-story home that is 4,808 sq ft, situated on 1.03 acres lot. It has 5 bedrooms, 4 bathrooms, and 3-car garage. This home was built in 1990 and offers stunning views of the city and hill.