Construction Financing for a Non-Owner Occupied Single Family Residential Home in El Cerrito, CA

Last week Rubicon Mortgage Fund funded a $150,000 construction loan for the Rehab of a Non-Owner Occupied Residential Home in El Cerrito, CA. The Home is well located, down the street from the Mira Vista Country Club, less than a mile away from BART, and has vistas of the Bay Bridge, the Golden Gate, and the Richmond-San Rafael Bridge. Rubicon's borrower is a seasoned developer with previous experience in that market who needed the fund to finish the project. Rubicon Mortgage Fund's 1st Deed of Trust loan was 20% LTV (Loan-to-Value) of the property with a 1 year loan term. 

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