A long-time client needed to refinance an existing conventional loan secured by two retail properties on two separate parcels in the area of Mission Gorge in San Diego. The borrower’s objective was to refinance the loan with no cash-out and secure it with only one of the properties releasing the 2nd property free and clear.
Fidelis was able to arrange a loan with another conventional lender through our network of lender relationships at loan terms acceptable to the borrower and accomplish their goal.
Fidelis Private Fund arranged a 1st Trust Deed refinance 30-year loan term with a three year fixed rate for $2,440,000 or 65% LTV.
(The subject loan was not funded directly by Fidelis but arranged through Fidelis by Cornerstone Commercial Mortgage, acting as the broker on the transaction).
The Fidelis Private Fund helped the borrower arrange a refinance loan with no additional debt and release a property that was once secured by the loan into a free and clear property with no debt.
Our goal is complete customer satisfaction, and if the loan request doesn’t fit Fidelis Private Fund as a direct lender, we find the right lender with the best loan terms for the borrower.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.