)
Deal Details
Private Loan Type
2nd Mortgage
Approx. Funding Date
12/14/2018
Property Type
Property City
Fremont
Property State
CA
Lien Type
2nd Mortgage
Payment Type
Interest Only
Loan-to-Value
47%
Building Square Footage
6,977
Lot Square Footage
16,179
Deal Summary
Stonecrest Financial, a direct California private lending firm, funded a $500,000 2nd mortgage business line of credit for a single-family home in Fremont, California. The combined loan-to-value was 47%. The Borrowers came to us in need of working capital for their business. They wanted the flexibility of our Business Line of Credit product. It is a 6,977 square feet single-family home sitting on a 16,179-square-foot lot. The property was built in 1993. It has 5 bedrooms and 5.5 bathrooms, a foyer, and a basement. There are three fireplaces, garage space for 5 cars, and the home includes an in-ground pool. It is located in a residential neighborhood. This SFR 2nd mortgage business line of credit was funded in December 2018.
Funded By
Stonecrest Financial
Bridge Loans & True Revolving Line of Credit in 1st or 2nd Position