A long-time client needed a lender to provide a line of credit to access cash for an investment opportunity in less than a week. The borrower owned a free and clear residential duplex investment property in San Diego, which was used as collateral to fund the loan.
Fidelis Private Fund provided the borrower a $500,000 1st Trust Deed line of credit at a 56% LTV ratio and closed on the loan in time to meet the borrower’s deadline.
The exit strategy is to refinance with a conventional loan.
The Fidelis Private Fund helped the borrower provide cash liquidity in less than a week from the equity in his property. At the same time, we made it a smooth and hassle-free process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.