Stonecrest Financial

About Stonecrest Financial

Stonecrest Financial is a San Jose, CA based private money lender offering loans in California. They offer loans for many different needs and situations, including short term fix and flip loans, commercial hard money loans, bridge loans, and loans for rental properties. They issue terms between 12 months and 60 months, rates ranging between 8% and 11%, and loan amounts ranging from $100,000 to $5,000,000 with a maximum LTV of 65%. They will make loans on various property types, including single family, multi family, apartment buildings, office units, retail storefronts, hotels and motels, storage facilities, assisted living communities, mixed use buildings, churches, warehouse spaces, and industrial buildings.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Church, Warehouse, Industrial

Areas Served: CA

Licenses: NMLS #141656, DRE #01050197, DBO/CFL #60DBO81799

Lending Guidelines for Stonecrest Financial

Below are the general loan guidelines published on the Stonecrest Financial website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Stonecrest Financial.

Loan Example 1

Jon finds a property in Los Angeles, CA to remodel and re-sell. Since he does not have enough cash to purchase the $250,000 property outright, he takes out a fix-and-flip loan from Stonecrest Financial. The borrower will be required to bring 45% of the sales price in cash to closing based on a 55% loan-to-value stipulated by the lender. This makes the loan principle from Stonecrest Financial $137,500. The deal also consists of these features: 1) a 18 month term, 2) a 10% interest only note, and 3) a three point origination fee.

Accordingly, the borrower will have to make a $112,500 down payment in addition to paying a $4,125 origination fee. The monthly interest only payments will then total $1,146 to Stonecrest Financial. If he sells the rehabed project for $312,500 at the end of the 18 month term, his gross profit (not accounting for renovation costs) would be $37,750. This is computed by taking the sales price ($312,500) and subtracting the original principle ($137,500), the origination fee ($4,125), the cash he brought to closing ($112,500), and the total interest expenses ($20,625).

Loan Example 2

Charlotte takes a private money loan from Stonecrest Financial in order to remodel a property to re-sell in Los Angeles, CA. The deal has the following parameters:

a) A $220,000 purchase price, b) a 85% loan-to-value (LTV), c) a 12 month term, d) a 11% interest rate, and e) a 5% origination fee.

Assuming a $297,000 sales price at the end of the 12 month term, the final numbers for the project would look like the following:

$297,000 sales price
- $187,000 note principle (85% LTV)
- $33,000 cash paid at closing (15% on 85% LTV)
- $9,350 origination fee (5% of the $187,000 principle)
- $20,570 interest payments (12 months x 11% interest)
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= $47,080 total profit (doesn't include taxes or renovation costs)