Hard Money Cash Out Loan for Berkeley Single Family Home

Last month Rubicon Mortgage Fund provided a $270,000 equity cash out loan to a home owner in Berkeley. The Borrowers needed the funds for their businesses and decided to pull out some equity from their home. The property is a small single family residence located in South Berkeley, close to the Ashby BART Station. Our private mortgage is a 1st trust deed loan with a 2-year term. The LTV is approximately 55%.