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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
01/16/2018
Property Type
Single Family Residence
Property City
Palo Alto
Property State
CA
Interest Rate
%
Origination Points
%
Deal Summary
The borrower is an active real estate investor who wanted to take advantage of our Line of Credit product for other real estate projects. We provided him with a $820k credit line in 2nd position on his home in Palo Alto at a combined loan-to-value of 59%. This 1-story home has 3 bedrooms and 2 bathrooms. Built in 1959, it is 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. Stonecrest funded this private money mortgage in January 2018.
Funded By
Stonecrest Financial
Bridge Loans & True Revolving Line of Credit in 1st or 2nd Position