Borrower needed short-term financing to purchase new property in Lafayette. With Rubicon’s help the borrower leveraged a quick close to relocate to a different location. Upon the sale of their existing property, most of the proceeds will pay down the loan with Rubicon and any existing debt can be refinanced through a conventional lender.
Loan Amount: $1,900,000
CLTV: 35%
Loan Position: First Deed of Trust on subject property in Lafayette (pictured above) Second Deed on additional collateral in Oakland, CA (pictured below).
