A repeat client needed a construction loan to build 17 apartment units in National City, CA. The borrower wanted a conventional lender with competitive pricing that would accommodate financing for an owner/builder.
As it is with many of our clients, private money is not always needed. Fidelis arranged the construction financing with a regional commercial bank, one of Fidelis’s many lender relationships.
Fidelis Private Fund arranged a 1st Trust Deed construction loan for $3,330,000 or 68% LTC and 59% LTV in the low 5% interest rate range. (Fidelis arranged the loan and acted as the broker on the transaction)
The Fidelis Private Fund helped the borrower as an owner/builder arrange a construction loan with a commercial bank at competitive market pricing.
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.