Palos Verdes Estates, CA

$500,000

Single Family Residence

2nd Mortgage

12/20/2018
Transaction by
Stonecrest Financial
This borrower was in need of a business line of credit to handle the purchase of a new franchise. In order to meet their short term capital needs, we were able to provide them with a $500K line in 2nd position against their primary residence with a combined loan-to-value less than 53%. The property is located in Palos Verdes Estates and is a 4,513 sq ft single-family home that sits on an 11,117 sq ft lot. This 3-story property was built in 1973. It is in a residential neighborhood. The home has 6 bedrooms and 4.5 bathrooms.