Borrowers needed 6 month loan to complete the purchase and reverse exchange involving a classic beach house a short walk to the beach in Santa Cruz and a Mountain View SFR. Rubicon came through with the $700K loan needed to complete this transaction and get the borrowers the beach cottage just in time for summer. The combined loan to value on these great properties was 55%.
A dream house found! Borrowers who lived in San Francisco in a lovely victorian found a gorgeous and new farm house in Lafayette with plenty of space indoors and out. Rubicon funded $2.85M to complete this bridge loan of 10 months quickly. Combined loan to value at 55%.
A 4-story, 28-unit building in San Leandro with over 22,500 square feet of rentable residential space required a loan of $4.2 Million Dollars. RMF funded this acquisition and improvement project for borrower’s investment purposes. Term of loan is 1 year and the loan-to-cost is 63%
Using the equity in the home being sold in Danville, CA, and a loan RMF funded of $375,000, borrowers were able to purchase a home in La Quinta. Bringing some cash to escrow, the loan term is for 355 days and the combined loan-to-value is 25%.
Owner of a Light Manufacturing Industrial Facility in Milpitas needed a $350,000 refinance loan to payoff existing debt. The Loan to Value on this 8,100 square foot, single story building is 30%. Loan term is for 24 months.
A cash-out refinance to fund a reverse exchange was the focus of this deal. Borrower needed $2.81M cash out from two single family residences in leafy Palo Alto. One of the properties is a 7-unit multi-family SFR. The combined LTV is 50% for this 24 month loan. Purchase property is in Menlo Park.
An over 10,500 square foot, free-standing building in Hayward was on the market and borrower came to Rubicon for $1.15M to seal the purchase on this investment property. Warehouse has office space of over 6,700 square feet with 15 parking spaces. The loan to cost on this deal was 62% and term is for 1 year.
A long-term tenant along with two other investors will grow their mechanics business along with the newly acquired gas station and convenience store (with great cash flow) all located on one lot. Borrower needed $1.7M to complete purchase of this commercial retail property. Using two free-and-clear single family residences in Chowchilla and Ceres as cross collateral, Rubicon funded the loan for 12 months. The combined loan to value is 50% and RMF has 1st Deed of Trusts.
Borrowers found a great investment acquisition opportunity on North Oakland/Berkeley border. Using the cross collateral of a 4-plex unit in Berkeley, they were able to secure a $1.25M loan with Rubicon Mortgage Fund bring the combined loan to value under 60%. Term of loan is 12 months and Rubicon holds the 1st Deed of Trust on both properties.
Two Rentable Spaces (1st and 2nd floor) in a Daly City SFR was an attractive purchase for our borrower. Featuring great floor plans, this non-owner occupied 2-story, was built in 2016 and will be rented out immediately. The upper level has 2 bedrooms, plus den and 2 bathrooms. Lower level is 1/1. Walking distance to BART makes it even more attractive for renters commuting into San Francisco. Loan to cost is 50%, and RMF has the 1st DOT for 12 months.
A repeat borrower came to Rubicon for a $600K loan on property located in the very leafy and desirable neighborhood of Upper Happy Valley in Lafayette. This non-owner occupied single family residence has 5 bedrooms and 4 baths with over 3,000 square feet on over 1/2 acre of land. With a Loan to value of 30%, this refinance will go towards other business purposes. RMF holds 1st DOT and loan is for 12 months.
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.