Cash-out Refinance Loan for Mixed-Use Property in San Francisco, California

Redwood Mortgage, a direct private money lender headquartered in the Bay Area, funded a $850,000 1st lien position bridge loan secured by a mixed-use property in San Francisco, California. The Borrower had a hard money loan that was maturing and needed to be refinanced. Redwood Mortgage was able to provide a competitive rate as well as provide some cash out on this Mixed-use property in San Francisco. The building was 100% leased with positive cash flow. The financing from Redwood Mortgage enabled the Borrower to have more time to season the rent and move to a bank loan in the future. This cash-out refinance bridge loan was funded in January 2018.