Mon - Fri : 8:00 - 5:00

$130,000 2nd DOT Cash-Out/Bridge Loan

$130,000 2nd DOT Cash-Out/Bridge Loan

Success Story

A repeat client who owned a single-family investment property valued at over $700,000 initiated plans to develop a six-unit multifamily building on the site in San Marcos, CA. In order to finance the early development costs, the client needed a bridge loan. The property was already encumbered by a low-cost first trust deed loan of less than $230,000. To avoid paying off this low-cost mortgage, the borrower requested a second trust deed loan of $130,000 specifically for the development costs. Once the building permits are approved, the client plans to secure a construction loan, which will then be used to repay the second trust deed loan.

Fidelis Private Fund provided the borrower a $130,000 bridge 2nd Trust Deed loan with a combined LTV ratio, including the 1st Trust deed for a conservative 51% LTV ratio as is, with no value given for the entitlements.

The exit strategy is to refinance with a construction loan.

Value Added

The Fidelis Private Fund helped the borrower save money by not having to pay off the low cost 1st Trust Deed loan while at the same time making it a safe, secure investment for Fidelis. At the same time, making it a smooth and hassle-free loan process.

Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.

$1,900,000 1st DOT Purchase/Const. Loan $2,365,000 1st DOT Refinance/Const. Loan