Success Story
A trusted repeat client needed additional capital to complete a nearly finished single-family residence in San Diego County, while keeping a low-interest first trust deed in place.
Fidelis Private Fund provided a $210,000 second trust deed loan to help complete construction on a 4-bedroom, 3-bathroom single-family home totaling approximately 2,300 square feet on a 12,400 square foot lot in San Diego County. The home was approximately 80% complete at the time of funding. The new loan was structured behind an existing $120,000 low-interest first trust deed, bringing the combined loan-to-value (LTV) to under 28%, a highly conservative position.
Exit Strategy
Sale of the property or refinance upon project completion.
Value Added
Fidelis once again delivered for a proven borrower by structuring a subordinate loan that respected existing favorable debt terms. This relationship-driven approach enabled the borrower to complete construction without delay, preserving equity while minimizing borrowing costs.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.