Private Money Refinancing for Commercial Real Estate in California
A commercial real estate refinance replaces an existing loan with new financing. While the mechanics are straightforward, the reasons borrowers seek private money refinancing are often more nuanced: a loan is maturing and the property is not yet ready for permanent financing, a recent credit event calls for a short-term solution, or the ownership structure requires a more flexible underwriting approach. In these situations, an asset-based bridge refinance provides flexibility and certainty of execution.
Rubicon Mortgage Fund, LLC has been providing private money refinance loans for commercial real estate across California since 2008. We are based in Lafayette in the San Francisco Bay Area and actively fund refinances throughout Northern California, Sacramento, Los Angeles, San Diego, and statewide.
When a Private Money Refinance Makes Sense
- Existing loan is maturing and permanent financing is not yet available
- Property is in a transitional phase and does not stabilize for conventional underwriting
- Ownership held in trust, LLC, or partnership creates conventional lending friction
- A recent credit event calls for a short-term, asset-based solution
- A defined exit strategy makes short-term bridge financing the right structure
- Certainty of execution is the priority
How Rubicon Evaluates Refinance Requests
Rubicon Mortgage Fund reviews every refinance request on the basis of the property's current value, the existing debt position, the physical condition of the asset, and the borrower's plan for the loan proceeds and exit. We conduct a physical inspection of every property. No personal credit check, tax returns, or income statements are required. We lend to individuals, LLCs, corporations, trusts, and partnerships.
Lending Criteria
- Loan amounts from $500,000 to $15,000,000
- Up to 65% loan-to-value (LTV)
- First position only
- All commercial property types across California
- Loan terms from 6 months to 24 months
- No credit check required
Get Started
Contact Rubicon Mortgage Fund, LLC with your property address, current loan balance, maturity date, and refinance objective. We serve commercial property owners throughout California including the Bay Area, Northern California, Sacramento, Los Angeles, and San Diego. We typically provide an initial response and preliminary terms within 24 hours of inquiry.
Rubicon Mortgage Fund writes refinance loans on California commercial property from its own capital — most often when an existing loan is maturing and the property is not yet ready for a bank.
The Maturity Wall, and Why It Arrives Faster Than Expected
Commercial mortgages balloon. A loan written five or ten years ago comes due in full on a date that was always in the documents and rarely in anyone’s calendar. The borrower assumes the bank will extend, because it always has.
Then the extension does not come. The property’s income has moved, the bank’s appetite for the asset class has moved, or the institution itself has changed hands. Now there is a payoff date and no lender behind it.
Start earlier than feels necessary
The most common mistake is waiting for a written decline. By the time a bank formally says no, the runway is often 60 days or less, and every option left is worse than the ones available three months earlier.
If your loan matures within six months and you do not have a signed commitment, that is the moment to line up alternatives — not the week the demand letter arrives.
Default is more expensive than a bridge
A maturity default triggers default interest, legal costs, and a notice of default recorded against the property. It also becomes part of the story every future lender reads. Refinance loans from a private lender cost more than bank debt, but they cost considerably less than a default on the record while you look for one.
California Refinance Loans Rubicon Has Funded
- $5,500,000 — Orangevale. A refinance tied to construction work on the property.
- $3,000,000 — San Francisco. A refinance on commercial property in the city.
- $3,200,000 — Stockton. A refinance on a 692-unit self-storage facility at 63% LTV, replacing existing debt and funding improvements under a new management agreement.
- $1,400,000 — industrial. A refinance on an industrial property.
- San Leandro. A gas station refinance.
More closed transactions are listed on our funded loans page, and full parameters are on our borrowers and lending criteria page.
Refinance or Sell?
When a loan matures on a property that is worth keeping, selling under time pressure is the expensive answer. A buyer who knows your deadline prices it in, and the discount usually dwarfs the cost of short-term financing.
The question worth asking is narrower than refinance-or-sell. It is: what has to be true for this property to be bankable, and how long does that take? If the answer is twelve to eighteen months of operating history, a repositioning, or a lease-up, then a short-term refinance is a bridge to a known destination. If there is no answer, selling on your own timeline is the honest choice — and we will say so.
Refinance Loans: FAQs
My loan matures in 60 days. Is that too late?
Not necessarily. Closings inside 30 days are routine for us, and most borrowers have preliminary terms within 24 hours. Earlier is better, but 60 days is workable.
My bank declined an extension. Does that hurt my application here?
No. It is one of the most common reasons borrowers call us, and it tells us about the bank’s appetite rather than about your property.
Can you refinance a property that is vacant or under-occupied?
Yes. We underwrite the asset and the plan rather than trailing income.
Do you require an appraisal?
No, on any loan. Someone from Rubicon inspects the property in person instead.
Can I refinance and take cash out at the same time?
Yes. See our cash-out refinance loans page.
What if there is already a notice of default recorded?
Tell us immediately. It is not automatically disqualifying, but it changes the timeline and we need to know at the start rather than in escrow.
Are refinance loans regulated in California?
Yes. Rubicon lending is made or arranged pursuant to California Financing Law and overseen by the California Department of Financial Protection and Innovation. All loans are business purpose and secured in 1st position.
What do you need to quote a refinance?
The property address, the current loan balance and maturity date, your estimate of value, and what the exit looks like.