A repeat Fidelis client, an owner-builder/contractor, needed a construction loan to complete a single-family investment property.
The market value of the completed 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 construction loan with the proceeds funded as a percentage of completion.
The exit strategy is to sell the property within six months.
The Fidelis Private Fund helped a long time client and repeat borrower fund the construction loan with little to no hassle.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.