A repeat client required a fast closing to pull cash out of an existing income property for another investment opportunity.
Fidelis Private Fund provided the borrower a $400,000 2nd Trust Deed refinance bridge loan. The first trust deed was $856,000. The conservative estimated value is $2,300,000 or a 55% combined LTV ratio.
The exit strategy involves refinancing with a conventional loan or sale of the property.
The Fidelis Private Fund helped the borrower move fast to utilize existing equity in a property through a cash-out bridge loan. At the same time, making it a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.