Rubicon Mortgage Fund prides itself on its commitment to providing tailored solutions as a solutions-oriented hard money lender in California. In a recent case involving a cash-out refinance loan for working capital on a non-owner-occupied residential property, Rubicon demonstrated its ability to adapt plans to better serve the borrower. Initially, the borrower sought a loan for a parcel of land they owned. However, our Senior Loan Director – Cesar Pena, identified a simpler option by refinancing a property generating rental income rather than borrowing against the parcel of land.

This decision for the cash-out refinance loan not only provided the borrower with the necessary working capital but also afford them the opportunity to obtain permits for their land, with aspirations to develop a gas station. The sale of the newly constructed gas station will serve as their exit strategy, showcasing the borrower’s long-term vision and Rubicon’s ability to facilitate strategic financial solutions. 

Loan Amount: $300,000

Loan Term: 10 Months

LTV: 50%

Loan Position: First Position Deed of Trust