Single Family Residence
The borrowers came to us in need of working capital for their business. They wanted the flexibility of our Business Line of Credit product. Stonecrest provided a $500k line in 2nd position against their home, with a combined loan-to-value of 47%. The property is located in Fremont, California. It is a 6,977 sq ft single-family home sitting on a 16,179 sq ft lot. The property was built in 1993. It has 5 bedrooms and 5.5 bathrooms, a foyer and basement. There are three fireplaces, garage space for 5 cars, and the home includes an in-ground pool. It is in a residential neighborhood.