Cash-out Refinance in Tahoe City

Borrowers purpose for this loan from Rubicon was to payoff an existing loan and recapitalization of their business. RMF provided a $2.5M loan for 18 months using this family vacation home as collateral to pay off the business credit line that had matured. Borrower’s exit strategy is to use proceeds from the sale of their industrial building outside of San Diego to pay off our loan. This beautiful wood-framed home is right on the lake in Tahoe and includes 4 bedrooms and 5 baths and it’s own lake pier. Loan to value was less than 50%.