A client referral was in the process of purchasing a single-family residential four-acre improved lot for $485,000 in Poway, CA, just north of San Diego. The borrower was planning on purchasing all cash; however, due to unforeseen circumstances within 7 days of closing, the borrower was short $100,000 and needed a lender that could close fast.
Fidelis Private Fund provided the borrower a $100,000 1st Trust Deed purchase loan with a conservative 21% LTV.
The exit strategy is that the borrower will pay off the loan within six months out of the borrower’s cash flow.
The Fidelis Private Fund helped the borrower meet their deadline within seven days of receiving the request, saving the borrower from losing their deposit. At the same time, we made it a smooth and hassle-free process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.