SINGLE FAMILY RESIDENCE INVESTMENT PURCHASE IN CONCORD, CA

Our Borrower has had a long-time business relationship with Rubicon Mortgage Fund, LLC and wanted to make an offer on a 1,926 square foot residential investment property. In order to compete against all cash offers, she submitted an offer with a 12-day close, with the option to fund the purchase with private money at no cost or delay to the Seller, as well as a purchase price over $50,000 over the listing price. She used a loan from Rubicon Mortgage Fund to backfill the cost of the home as she did not want to use all her cash. Rubicon secured a $442,200 1st Deed of Trust, 1-year term loan, on the purchase price of $737,000, 60% Loan to Cost as requested by the Borrower. She started the loan process 10 calendar days prior to the scheduled close of escrow and with Rubicon’s internal underwriting and efficient back-office, the loan closed on time.

Loan Amount: $442,000

Loan Term: 12 Months

LTC: 60%

Loan Position: 1st Deed of Trust