A long-time client received construction financing from Fidelis a year ago to build an ADU on an SFR investment property in Fallbrook, CA. Now that the construction is complete and the unit is leased out, the borrower needed a conventional take-out lender to provide a long-term loan with some cash-out at the lowest rate possible.
Fidelis Private Fund arranged a 1st Trust Deed refinance loan for $492,000 or 60% LTV with a conventional lender.
The subject loan was a conventional refinance loan, a thirty-year fixed-rate mortgage. (The subject loan was not funded directly by Fidelis but arranged through Fidelis by Cornerstone Commercial Mortgage, acting as the broker on the transaction).
The Fidelis Private Fund helped the borrower arrange a refinance loan for an investment single-family residence to secure conventional, long-term permanent financing.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.