A repeat client needed to buy out a partner quickly on a single-family investment property in Escondido, CA, by refinancing the property and pulling cash out.
Fidelis Private Fund provided the borrower a $340,000 short-term 1st Trust Deed refinance loan on a property conservatively valued at $700,000 or 49% loan to value ratio.
The exit strategy is to refinance with a conventional loan.
The Fidelis Private Fund helped the borrower accommodate a partner who needed to be bought out of the partnership quickly. At the same time, it made it a smooth and hassle-free loan process.