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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
09/20/2021
Property Type
Property City
Brentwood
Property State
CA
Loan Term (months)
24
Lien Type
1st and 2nd
Payment Type
Interest Only
Source of Borrower's Contribution
Cash
Loan-to-Value
60%
Building Square Footage
5,266
Lot Acreage
10.5
Borrower's Plan
Lease Property
Deal Summary
Rubicon Mortgage Fund, a private lending firm that specializes in asset-based loans, funded a $1,900,000 loan for the acquisition of a single-family residence in Brentwood, CA. Our Borrower contacted us looking to purchase an investment property contiguous with another property they own. Rubicon structured a loan to finance the purchase of this 5,266-square-foot home situated on 10.5 acres of land. Rubicon crossed into the second property for additional collateral. Loan positions are as follows: 1st position deed of trust on the subject property and 2nd position deed of trust on the additional collateral. The Borrower intends to keep both properties as investments and begin renting out the new property. The loan-to-value was 60%. The loan term was set at 24 months. This SFR bridge loan was funded in September 2021.
Funded By
Rubicon Mortgage Fund, LLC
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