Line of Credit for SFR Investment Property in Encinitas, California

Stonecrest Financial, a private money lender, funded a $3,000,000 1st lien position equity cash-out loan secured by a beachfront residential investment property in Encinitas, North San Diego County, CA. The Borrower needed to cash out equity in order to help with cash flow until the property sells. The home was appraised at $7.7M so our loan-to-value was just 39%. The property is a 4,502-square-foot 3-story home situated on a 10,954-square-foot lot. This 5-bedroom, 5.5-bathroom home was custom built in 2016 and has a beautiful view of the ocean from the 2nd and 3rd floors. This property is stunning with inside/outside polished limestone flooring, an elevator, and many other amenities. This SFR private money refinance loan was funded in May 2018.