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$4,800,000 Refi. Cash-Out/Perm. Loan

$4,800,000 Refi. Cash-Out/Perm. Loan

Success Story

Our existing bank had a client who administered a trust that owned two commercial properties, one in Jacksonville, Florida, and one in Dripping Springs, Texas. Both were owned free and clear. The trust needed to refinance the properties with conventional financing and pull cash out for investment purposes.

Fidelis Action

Fidelis Private Fund assisted in arranging a 1st Trust Deed permanent loan with a Life Insurance company as the lender. Each loan was $2,400,000, 5.30% fixed for seven years, 25-year amortization for a total combined debt of $4,800,000 or approximately 50% LTV.

(The subject loan was arranged through Fidelis by Cornerstone Commercial Mortgage and Glacier Real Estate Finance, acting as the brokers on the transaction).

Value Added

With our extensive database of lender relationships, Fidelis Private Fund helped the borrower tap the equity in the free and clear properties to pull cash out at current market rates.

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.

$1,770,000 Refi. Cash-Out/Perm. Loan