Northern CA Private Money Lenders for Real Estate Investors
Here is a list of private money lenders for real estate in Northern California - Bay Area, Wine Country, Salinas Valley, Central CA, Gold Country, Redwood Empire, Emerald Triangle, and other areas. Use a private mortgage to get fast funding for a NorCal investment property purchase, refinance or equity cash out. Our directory lists private money companies (not individual investors) offering short-term loans that typically range from 6 to 36 months.
In September 2020, Rubicon Mortgage Fund provided a private money loan for the purchase of a single family home in Danville, Contra Costa County, CA. The Borrower is a local real estate broker who plans to do a fix and flip project. The home was listed on the market for $1,100,000 so our loan is 60% loan-to-value. The Borrower put down 40% cash toward the purchase price. Recognizing the ability to earn a substantial profit, the borrower wanted to snap this home up before other investors. He was able to close quickly with Rubicon and will begin work on improving this 1,300 square foot home before putting it back on the market. With the lot being over one-third an acre, the buyer plans to include an Additional Dwelling Unit (ADU) on the property thereby providing additional value for the asset. Rubicon helped facilitate the financing by securing a 1st Deed of Trust for a 12-month term.
In August 2020, Rubicon Mortgage Fund LLC provided a private money loan secured by a ranch property in Livermore, Alameda County, California. The Borrower has had a long-time business relationship with us, and needed funds to purchase a ranch in Montana. They own the 83.12 acre Private Reserve in Livermore which was unencumbered, as well as their primary residence which sits on 172.61 acres. Rubicon secured a 1st Deed of Trust in the amount of $1,150,000 for a term of 12 months on their Private Reserve and obtained additional security through a 2nd Deed of Trust on their primary residence. The combined loan-to-value was just under 50%. Obtaining this loan through Rubicon helped the borrowers get the funds they needed within two weeks helping them close expeditiously on their new ranch home in Montana.
Private Money Loan for Rental Property Acquisition in Ukiah CA
First Bridge Lending, a direct private lender, funded a $450,000 private money loan for the acquisition of a single family home in Ukiah, Mendocino County, California. The borrower is an inexperienced investor who operates a family business that does equine training for horse owners. They were exercising a lease option to purchase from 2015 with a strike price of $619,000. The borrower paid $100,00 in cash back in 2015 and amortized the balance to $450,000 through monthly lease payments. First Bridge Lending provided a loan for the borrower to finalize the purchase of the rental property. We determined the value to be around $738,000 which put our loan at 61% LTV for a 12-month loan term. This private money loan was funded in March 2020.