A client was in escrow to purchase a residential investment property in the area of Mammoth Lakes, CA, for $192,000 and needed to bridge loan to close fast.
Fidelis Private Fund provided the borrower a $125,000 1st Trust Deed purchase loan on the subject property along with the cross collateral of another residential investment property for a combined overall 50% LTV ratio.
The exit strategy is to refinance with a conventional loan once the property is remodeled and stabilized.
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity with a quick close. At the same time, made it a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.