Short-term Loan From San Francisco Property to Oakland Property
Our client was looking to up-size and relocate from San Francisco to Oakland. We cross collateralized two properties to be able to provide adequate funding. The property in San Francisco was a two bedroom condominium, and the Oakland property was a single family residential.
Loan Amount: $1,200,000
Loan Position: First deed of trust on Oakland property, Second deed of trust on San Francisco property.
CLTV 59%.
The borrower wished to complete a short-term loan using both a Brentwood property as well as a Pleasanton property. When looking to purchase a new property before selling a relinquished property, a short-term loan is a perfect option. After securing financing with Rubicon, our client was able to put an all cash offer on the new property being purchased.
Loan Amount: $960,000
Loan Term: 6 Months
Loan Position: First Deed of Trust on both properties
LTV: 40%
Rubicon financed a short-term loan, and our borrower was then able to purchase a replacement property before selling their current property.
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Loan Amount: $560,000
Loan Term: 6 Months
Loan Position: First position deed of trust on Sausalito property, second position deed of trust on San Francisco property
in mid-May 2020 select counties in California permitted a limited number of business sectors to reopen, one of which was non-essential residential real estate. Our purchaser, who also happens to be an investor of Rubicon Mortgage Fund loved living in Penn Valley, CA, but had been wanting to live lakeside for years. When this property became available, our borrowers jumped at the opportunity and wanted to close on the purchase as quickly as possible. Using their existing home as additional collateral, they were able to generate additional cash for their purchase. Rubicon secured a 1st Deed of Trust on the lakeside home, and a 3rd position on the borrowerâs current residence to provide a 6-month loan at 60% LTC ($449,000 loan for a $775,000 purchase). By early August 2020 Borrowers prior home has been sold and the new homeâs refinance with a conventional lender is almost complete!
Our borrower is a repeat borrower and long time business contact for Rubicon Mortgage Fund.
Borrower wanted a competitive offer on his purchase and wanted a streamlined process to close quickly and get his home ready to move in without the hassle of selling his current house.
This local transaction closed for $2,020,000 with a loan amount of $1,530,000, under 60% Combined Loan to Value.
$2,800,000 short term loan funded enabling the borrowers to upsize, and relocate to a 5,991 square foot home in Alamo, CA, before the sale of their current property. Borrowers intend to sell the current property and refinance as an exit strategy.
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Loan Amount: $2,800,000
Loan Term:Â 6 Months
CLTV: Under 50%
Loan Position: 1st Deed of Trust
Rubicon financed this acquisition short-term loan for a borrower relocating from San Francisco to Berkeley, CA.
Loan Amount: $1,675,000
Loan Term: 6 Months
Loan Position: 1st Deed of Trust
CLTV: 45%
Short-Term loan in Piedmont, California. Rubicon as able to help secure financing for the borrower and allow them to purchase the Piedmont property while working to sell their existing San Francisco home. The loan was secured by two first deeds of trust and had a combined loan to value of 60%. Borrower plans to sell their San Francisco property to pay Rubicon off.
Loan Amount: $2,550,000
Loan Term: 6 Months
CLTV: 60%
Loan Position: First deed of trust on the new property in Piedmont, 2nd position on the existing property in San Francisco.
Short-Term Loan in Richmond, California. 1st position deed of trust on the residential property and 2nd deed of trust on the condominium.
Loan to value: 65%
Loan Position: 1st position deed of trust on the residential property and 2nd deed of trust on the condominium.
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A family in Oakland had outgrown their lovely home and found the perfect house in Orinda. Their challenge was they still owned their Oakland home and the Orinda home was primed to sell fast. Coming to Rubicon for a $1.2M short-term loan solved the dilemma. Term of loan is 6 months and the combined LTV is 65%.
Needing more space for their growing and active kids, borrowers found a larger-sized SFR at the end of a cul-de-sac in Alamo – a stone’s throw from elementary school! The challenge was family still lived in their current home in Walnut Creek. Rubicon provided a short-term loan of $850K to transition the borrowers from one home to the next. The loan term was 6 months and the borrower paid off the loan once the sale of Walnut Creek home was sold. The combined LTV was 65% and kids are all settled to start the new school year.
Loan Amount: $850,000
Loan Term: 6 Months
LTV: 65%
A dream house found! Borrowers who lived in San Francisco in a lovely victorian found a gorgeous new farmhouse in Lafayette with plenty of space indoors and out. Rubicon funded $2.85M to complete this short-term loan of 10 months quickly. Combined loan to value at 55%.
Loan Amount: $2,850,000
Loan Term: 10 Months
CLTV: 55%