La Quinta (near Palm Desert) Short Term Loan for SFR
Using the equity in the home being sold in Danville, CA, and a loan RMF funded of $375,000, borrowers were able to purchase a home in La Quinta. Bringing some cash to escrow, the loan term is for 355 days and the combined loan-to-value is 25%.
Loan Amount: $375,000
Loan Term: 355 Days
CLTV: 25%
Rubicon funded a $1.5M short-term loan on a Single Family Residence located in Old Palo Alto. This area is one of the most esteemed enclaves in the leafy, walkable neighborhoods close to Stanford University and is one of the most desirable areas in Silicon Valley. Rubicon’s loan is for 11 months, has a loan-to-value of under 30% and RMF holds the 1st Deed of Trust.
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Loan Amount: $1,500,000
Loan Term: 11 Months
LTV: Under 30%
Loan Position: 1st Deed of Trust
Borrower was tenant in a commercial retail building for over 10 years. Owner of building wanted to sell structure and tenant had first right of refusal. Buyer came in and tenant matched the offer but needed Rubicon’s loan to complete transaction. RMF funded $1.575M for business acquisition and cross collateralized property with single family residence – all in San Jose. Loan position is 1st Deed of Trust, 6 months term and Loan to Value is 60%.
Loan Amount: $1,575,000
Loan Term: 6 Months
LTV: 60%
Loan Position: 1st Deed of Trust
With a loan to cost of 54%, RMF, LLC funded a single family residence short-term loan of $330,000 in San Leandro, CA.
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Loan Amount: $330,000
LTC: 54%
Rubicon was approached by a borrower needing to close quickly to secure an acquisition of this property located in Salinas, California. Our internal underwriting team worked diligently and closed within 10 days. The property includes agricultural land a Single Family Residential home.
Loan Amount: $1.2M
LTC: 51%
Loan Position: First position deed of trust
With a loan to cost of 55%, Rubicon funded a $240K short-term acquisition loan on a SFR. Loan period is 355 days and RMF holds 1st DT.
Loan Amount: $240,000
Loan Period: 11.85 Months
LTC: 55%
Loan Position: 1st Deed of Trust
Rubicon Mortgage Fund, LLC funded a $1,000,000 Acquisition Short Term Loan for an investment-purpose luxury home in San Jose, CA. The borrower intends to refinance to pay off Rubicon’s loan. Rubicon’s loan is 42% LTC (Loan-to-Cost) with a one-year term.
Loan Amount: $1,000,000
Loan Term: 12 Months
LTC: 42%