$300,000 Refinance in Benicia, California

$300,000 Refinance in Benicia, California

Rubicon recently funded the refinance of two buildings located in Benicia, CA. The buildings total 7,505± square feet of space. Both properties are held in a trust, and sometimes it is difficult for a trust to qualify for a traditional loan. Luckily, Rubicon specializes in making loans to trusts – focusing on the equity of the real property held by the trust.

Loan Term: 1 Year

Loan Position: First Deed of Trust 

LTV: 40%

 

To learn more about our loan process, visit us here.

 

Using a hard money lender to refinance a trust property can be a better option than selling the property for several reasons:

Retaining ownership: Refinancing allows you to maintain ownership of the property, which can be beneficial if it has appreciated in value or holds sentimental value. Selling the property would require giving up ownership.

 

Flexibility: Hard money lenders like Rubicon are often more flexible than traditional lenders, particularly when dealing with unique situations like trust properties. They may be willing to provide financing when other lenders won’t.

 

Speed: Rubicons Hard money loans can typically be processed and funded much faster than traditional mortgages, which can be advantageous if you need quick access to cash or want to take advantage of market opportunities.

 

Limited credit and income requirements: Rubicon places more emphasis on the property’s value and equity rather than credit scores or income documentation, making it easier for borrowers with less-than-perfect credit or complex income situations.

 

Potential tax benefits: Refinancing may allow you to avoid capital gains taxes that would be incurred from selling the property, depending on your specific situation.

 

Retaining the asset: If the trust property has potential for appreciation or generates income, refinancing allows you to keep the asset and benefit from its future growth or revenue stream.

 

Rubicons hard money loans offer the borrower the ability to retain ownership and access equity quickly can make refinancing a more attractive option than selling the trust property outright.