Bridge Loan for Contra Costa County Duplex

Last week Rubicon Mortgage Fund funded a $350,000 bridge loan on a duplex located in Concord, CA. The duplex is located across the street from Mt. Diablo High School and John Muir Medical Center. The purpose of our loan was to pay off the borrower's previous mortgage which was coming due; The borrower also plans to put some of the money back into the property to get it ready for sale. The LTV (Loan to Value) for this 1st trust deed mortgage is 70%. The loan term is one year.