Napa, CA

$425,000

Single Family Residence

Purchase

08/13/2020
Transaction by
Rubicon Mortgage Fund, LLC
Our borrower was in escrow for a Single-Family Residence Investment purchase in Napa, CA. The Buyer wrote a 21-day close at more than $50,000 over the listing price with a conventional lender but ran out of time to secure his financing. The realtor, who has a long-term relationship with Rubicon, brought us the deal with 9 calendar days to close. Rubicon secured a 1st Deed of Trust on the 1,297 square foot home, and offered $425,000 on the $678,000 purchase, a little over 60% Loan-to-Cost. Rubicon’s quick loan process, including in-house underwriting without an appraisal being required, allowed the Buyer to close on time.