$1,600,000 Short Term loan in Capitola, CA
Our borrower needed short-term bride loan to purchase a new house in Capitola before selling a condo in Santa Cruz. Rubicon provided a short term-term loan securing both properties. Upon the sale of the Santa Cruz property Rubicon will be paid off in full. This loan closed in 14 days.
Loan Amount: $1,600,000
Loan Term: 9 Months
Loan Position: 1st Deed of Trust on both subject property (pictured above) and 1st Deed of Trust on additional collateral (pictured below)
CLTV: 60%
