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$590,000 Refinance/Bridge Loan

$590,000 Refinance/Bridge Loan

Success Story

A repeat client owned a free and clear single-family investment property and needed to quickly access some of the equity in the property in the form of a cash-out refinance loan to purchase another investment property.

The buyer needed a lender that would perform fast and accommodate the borrower later in the loan term when permits were obtained to add five units on the property in the form of Additional Dwelling Units (ADU’s).


Fidelis Action

Fidelis Private Fund participated in the loan 50/50 with a repeat lending partner providing the borrower a $590,000 1st Trust Deed cash-out refinance loan. The “as is” estimated market value of the property was $840,000 or a 70% LTV ratio.

Later on in the term of the loan, the exit strategy is to amend the note for the ADU’s, thereby increasing the property’s value not to exceed 60% LTV.


Value Added

The Fidelis Private Fund helped the borrower immediately access cash equity in the form of a loan keeping the property rather than sell the property to realize the cash equity. At the same time, making it a smooth and hassle-free loan process.

$600,000 Refinance/Rehab/Bridge Loan $675,000 Purchase/Bridge Loan