A repeat Fidelis client, owner-builder/contractor, needed to access cash equity in a newly constructed single-family residence he owned free and clear. The borrower wanted a short term cash-out loan for other investment opportunities.
The market value of the property is conservatively estimated based on sale comps at $600,000 or 50% LTV.
Fidelis Private Fund provided the borrower a $300,000 short-term 1st Trust Deed refinance cash-out loan.
The exit strategy is to sell the property within 3 months.
The Fidelis Private Fund helped the borrower access cash equity in his property to take advantage of other investment opportunities. During times of uncertainty, there are always opportunities, and Fidelis is here to help people take advantage of those opportunities. At the same time, we are making it a smooth and hassle-free process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.