SF Bay Area Construction Lenders for Residential Real Estate
A list of private construction lenders for SF Bay Area home builders to finance residential ground-up construction projects - SFR, condo, townhomes. Most lenders will require the project to be fully entitled and shovel ready. A small percentage of lenders will consider land acquisition and/or land development financing.
Rubicon Mortgage Fund funded a $150,000 hard money equity cash out bridge loan secured by a single family home in El Cerrito, 7 miles north of Oakland, CA. The home is well located, just down the street from the Mira Vista Country Club, less than a mile away from a BART station with vistas of the Bay Bridge, Golden Gate Bridge and Richmond-San Rafael Bridge. The Borrower is a seasoned developer with previous experience in the East Bay market who needed to cash out equity on the property to finish the project. He plans to sell the home upon completion. The estimated finished value is $750,000 so this 1st trust deed bridge loan is only 20% LTV (loan-to-value) and the loan term was 1 year, and it was funded in January 2015.