$1,700,000 Refinance and cash-out in Sacramento, CA
Refinance and cash-out loan to a Family Trust is secured by two multi-family units totaling 25-units, as well as a Duplex. As a direct asset-based lender, Rubicon is in a unique position to lend to Trusts and Estates. In this recent closing, Rubicon made a loan to a family trust which enabled two siblings to help with taking over some properties held through a trust. This new private loan took the trust out of an expensive private note and gave some additional cash out for property improvements and clean up.
Loan Amount: $1,700,000
Loan Term: 12Â months
LTV:Â Under 50%
Loan Position: First deed of trust on all properties.Â
Pictured above is a 13-unit multi-family building.
Pictured below is an 8-unit multifamily property and a duplex.
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Did you know Rubicon can lend to Trusts and Estates? In this scenario, a repeat borrower contacted Rubicon to assist with a refinance of existing debt while working as a court-appointed interim trustee. As an asset based lender, Rubicon can loan to Trusts and Estates by using the equity in the real property as collateral for the loan.
Loan Amount: $300,000
Loan Term: 12Â months
LTC: 50%
Loan Position: 1st Deed of Trustv
$300,000 Refinance in Benicia, California
Rubicon recently funded the refinance of two buildings located in Benicia, CA. The buildings total 7,505± square feet of space. Both properties are held in a trust, and sometimes it is difficult for a trust to qualify for a traditional loan. Luckily, Rubicon specializes in making loans to trusts – focusing on the equity of the real property held by the trust.
Loan Term: 1 Year
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Loan Position: First Deed of TrustÂ
LTV: 40%
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To learn more about our loan process, visit us here.
Rubicon secured cash-out financing on the property held through a family trust. Cash-out was needed to pay for the property taxes and provide operating capital to restructure the trust.  Sometimes it can be difficult for a trust to get a traditional loan due to issues such as lack of income or creditworthiness. Rubicon specializes in making loans to trusts by focusing on the equity in the real property held by the trust.
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Loan Amount: $500,000
Loan Term: 1 Year
LTV: 40%
After a family inheritance of a free-and-clear multi-unit property to 3 siblings, 1 of the siblings wanted to be paid out leaving 2 brothers on title. They came to Rubicon for a $300,000 loan for this Family Trust Buy-out. The 5,000 square foot lot hosts a 2-story, 4-plex – each with 2 bedrooms and 1 bath and a parking spot – residential building with active renters. Loan period is for 1 year and the LTV is less than 50%. Rubicon holds the 1st Deed of Trust.
Two Residential Duplexes with a Combined Value of $3.1M were successfully refinanced by Rubicon Mortgage Fund, LLC. As part of complicated Trust Settlement, borrower came to Rubicon and cross collateralized primary city duplex to give the loan a combined value of 50%. These investment properties have a one year term with RMF.
Rubicon Mortgage Fund, LLC recently funded a $250,000 loan on a Residential property located in Rancho Palos Verdes, CA. The purpose of this loan was to give the client sufficient time to update the property for conversion to a rental property. The house is currently held in a Trust, which sometimes makes it difficult for borrowers to qualify for a conventional loan. Since Rubicon is asset-based, we focus on the equity held in the real property to make this loan possible. Rubicon’s loan to value was less than 40% and the loan term is two years. For collateral, Rubicon is in first position deed of trust on the subject property.
Earlier this month Rubicon Mortgage Fund provided a $460,000 hard money short-term loan secured by 2 properties. The borrower wanted to purchase a vacant lot in the Santa Cruz Mountains so we have a 1st private mortgage on that property and we also secured a 2nd on the borrower’s 4-unit multifamily rental property in San Francisco. The SF property is a Victorian on McAllister Street, located North of the Panhandle (NOPA). The combined loan-to-value on the 2 properties is around 40%, the term is 2 years.
Rubicon doesn’t normally consider 2nd position loans but we made an exception since the LTV was low and the property was cross-collateralized. Learn more about our private money lending guidelines.