A long-time client needed funds to take out a seller carry-back note and remodel an entry-level residential condo in El Cajon, CA.
Fidelis Private Fund provided the borrower with a $375,000 1st Trust Deed refinance loan. The loan was cross-collateralized with two properties, resulting in a Loan-to-Value (LTV) ratio of approximately 61%.
The exit strategy is to sell the property after the remodel.
The Fidelis Private Fund helped the borrower by performing quickly and allowing the borrower to add value to the property, resulting in a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.