A repeat Fidelis client, an owner-builder/contractor, built out of pocket a newly constructed single-family residence he owned free and clear that was partially finished. The borrower wanted a short-term loan to finish the construction.
The property’s market value is conservatively estimated based on sale comps at $700,000 or 45% LTV.
Fidelis Private Fund provided the borrower a $310,000 short-term 1st Trust Deed refinance loan.
The exit strategy is to sell the property upon completion.
The Fidelis Private Fund helped the borrower access cash equity in his property to finish the construction of the single family investment property. At the same time, we made it a smooth and hassle-free process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.