Private Money 2nd Mortgage Line of Credit for SFR in San Francisco, California

Funded by Stonecrest Financial

$600,000

Deal Details

Private Loan Type

2nd Mortgage

Approx. Funding Date

08/31/2017

Property Type
Single Family Residence
Property City

San Francisco

Property State

CA

Lien Type

2nd Mortgage

Payment Type

Interest Only

Building Square Footage

1,330

Lot Acreage

0.05

Deal Summary

Stonecrest Financial, a direct private mortgage lender based in San Jose, funded a $600,000 2nd lien position private money loan for a single-family home in San Francisco, CA. Our Borrower is a real estate investor who needed funds for another project they were completing. They own this property with a small first lien of $375k. The appraisal came in at $1.5M. Stonecrest provided the Borrower with a $600k line of credit in 2nd position. This is a 1-story home built in 1922. The home is 1,330 sq ft on a 2,063 sq sf lot with 3 bedrooms and 2 baths. The finished basement has an additional 2 bedrooms and 1 bath. The inside of the home has been remodeled within the last year. This private money 2nd TD was funded in August 2017.

Funded By

Stonecrest Financial

Bridge Loans & True Revolving Line of Credit in 1st or 2nd Position