A repeat client and experienced real estate investor called me with a loan request to purchase a single-family residence as an investment property. The loan needed to close in 9 days. There was not enough time to close the loan with a conventional lender.
Fidelis was the perfect lender for such a bridge loan for a repeat client. However, we did not have the loan capacity to fund the loan at the time, so we quickly connected the borrower with a lender that could make the loan.
Fidelis Private Fund arranged a $467,500 bridge loan 1st Trust Deed with a local, private lender. 75% LTV. (Fidelis was not the lender, we acted as the broker on the transaction)
The challenge was brokering the loan and arranging the loan with another lender in such a short amount of time. The exit strategy was immediately to refinance with a conventional lender.
The Fidelis Private Fund helped the borrower arrange a bridge loan to purchase a property in the time frame needed by the borrower.
Our goal is complete customer satisfaction, and if the loan request doesn’t fit Fidelis Private Fund as a direct lender or we do not have the capacity to fund the loan, as was the case this time, we still help the client by assisting in whatever loan is needed. In this case, we tapped our other private lender database to arrange a bridge loan, accomplishing what the client needed.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.