Cash-out Loan in Lafayette, CA
Within the week, Rubicon Mortgage Fund, LLC funded a hard money loan of $400,000 on a Retail Property located in Lafayette, CA. The purpose of this loan was Cash Out for Business Purpose. The borrower intends to rehab the property to prepare for new tenants!
Rubicon Mortgage Fund, LLC recently funded a $2,000,000 loan on an Office/Retail property located in Sacramento, CA. The purpose of this loan was to take Cash Out for Business Purposes. The one-year loan term will give the client sufficient time to liquidate the property. Rubicon’s loan to value was less than 30%. Loan Position: First position deed of trust.
Last week, Rubicon Mortgage Fund funded a $980,00 cash-out-refinance loan secured by a 10 unit apartment building in Berkeley, CA. The borrower wanted to cash out for investment purposes. The funds are to be used to improve the subject property. Rubicon feels that the property value is around $2,000,000 now making the LTV (Loan to Value) 49%. This 10 Unit Apartment Building is tenant-occupied. Our loan term is 2 years.
Rubicon Mortgage Fund provides short-term loans on investment real estate in the San Francisco Bay Area, and throughout the state of California. Learn more about our lending criteria.
Yesterday, Rubicon Mortgage Fund funded a $3,500,000 cash out loan for a 17 unit apartment building in Berkeley, CA. The purpose of Rubicon’s loan was to provide the borrower with short-term capital to make improvements to his building. The building also acted as security to refinance the existing debt. The building has a Prime location next to Cal Berkeley’s campus and is blocks away from the Downtown Berkeley Bart Station. Rubicon’s loan is secured by a 1st deed of trust with an LTV (Loan to Value) of 60%. The term for this private mortgage is two years.
Last week Rubicon Mortgage Fund funded a $385,000 hard money cash-out loan secured by a residential property located in Portland, OR. The borrower is a developer who needed improvement funds for further development of the property. This 1st deed of trust short-term loan was less than 50% loan to value with a one year loan term.
Last week Rubicon Mortgage Fund funded a $330,000 hard money cash out loan secured by a residential property located in Berkeley, CA. The borrower focuses on “rehab” opportunities, and required a short-term loan for this property as the bank he was working with was unable provide financing in a timely fashion. Rubicon’s loan funded in 6 days, and gave the borrower the capital he needed to begin the rehab. This 1st deed of trust short-term loan represents a 60% loan to value on a one year loan term.
Rubicon Mortgage Fund funded a $375,000 short-term loan secured by an owner-user Industrial Building located in Alameda, CA. The borrower is a small business owner who was unable to seek a line of credit for his business, although his company is highly profitable. The purpose of the loan was to provide the business with the working capital it needs until it reaches a level of maturity that is self-sustaining. This 1st deed of trust short-term loan is nearly 62% loan to value with a one-year loan term.
Loan Amount: $375,000
Loan Term: 12 months
LTC: 62%
Loan Position: 1st Deed of Trust