Last week, Rubicon Mortgage Fund funded a $980,00 cash-out-refinance loan secured by a 10 unit apartment building in Berkeley, CA. The borrower wanted to cash out for investment purposes. The funds are to be used to improve the subject property. Rubicon feels that the property value is around $2,000,000 now making the LTV (Loan to Value) 49%. This 10 Unit Apartment Building is tenant-occupied. Our loan term is 2 years.
Rubicon Mortgage Fund provides short-term bridge loans on investment real estate in the San Francisco Bay Area, and throughout the state of California. Learn more about our lending criteria.