A referral from a long time client needed to close on the purchase of a large single-family investment property in Spring Valley, CA, in less than one week.
The borrower’s conventional lender was taking longer than expected, and the seller would not wait for the traditional bank lender to close on the loan and forced the buyer to use private money to close in time to get the property.
The purchase price was $880,000, and the borrower put $670,000 cash down.
Fidelis Private Fund provided the borrower a $210,00,000 short-term 1st Trust Deed purchase loan or 24% LTV ratio.
The exit strategy is to complete the refinance with the conventional lender in a matter of a month or two maximum.
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity within a matter of days. 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.