Contra Costa County Rental Property Bridge Loan

Several weeks ago Rubicon Mortgage Fund funded a $315,000 bridge loan secured by a 2,100 square foot, vacant single family home located in Martinez, CA. Rubicon has worked with the borrower in the past and successfully funded other deals with him.  The conservative value of the leased investment property is $500,000. This 1st trust deed loan is nearly 65% loan to value. The borrower plans to rehab the home and hold it as a rental property.  The term for this hard money loan is one year.