A client needed to refinance existing higher-cost debt with a lower interest rate on a six-unit apartment in Ocean Beach. The borrower wanted a conventional lender at the lowest interest rate possible.
Fidelis Private Fund arranged the $1,690,000 permanent loan with a commercial bank at a competitive interest rate and 65% loan to value.
The units were recently remodeled using short term higher-cost debt and once completed the borrower wanted long term financing at the lower interest rate to improve net cash flow on the property.
The Fidelis Private Fund helped the borrower arrange a loan to refinance the six apartment units at an excellent interest rate with a commercial bank.
Our goal is complete customer satisfaction, and if the loan request doesn’t fit Fidelis Private Fund as a direct lender, we will still help the client by assisting in whatever is needed. In this case, we tapped our extended lender resources to arrange an excellent long term loan accomplishing what the client was looking for.
Another transaction where Fidelis Private Fund is helping our client achieve their financial goal.
Deal FPF 10022