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$1,500,000 Purchase/Bridge Loan

$1,500,000 Purchase/Bridge Loan

Success Story

A repeat client needed a bridge loan to purchase 14 apartment units in El Cajon, CA, which required renovation before obtaining conventional financing.

The borrower needed a flexible bridge lender to fund the purchase quickly and allow time to vacate the tenants and complete the renovation.

Fidelis Action

Fidelis Private Fund provided the borrower a $1,500,000 1st Trust Deed purchase loan with a purchase price of $3,250,000 or 46% LTV ratio.

The exit strategy will be to refinance with a conventional lender once the rehab is finished and the property is stabilized.

Value Added

The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity where value could be added, and at the same time, Fidelis made it a smooth and hassle-free loan process.

$340,000 Refi/Bridge Loan $565,000 Purchase/Bridge Loan