A new borrower referred to Fidelis Private Fund needed to refinance two maturing private notes with high-interest rates on his owner-occupied single-family residence in Rancho Mirage and wanted a long-term loan.
Fidelis does not fund owner-occupied residential loans. However, we were able to arrange a loan with another lender through our network of lender relationships at loan terms acceptable to the borrower.
Fidelis Private Fund arranged a 1st Trust Deed refinance loan for $904,000 or 63% LTV.
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 owner-occupied single-family residence in time to pay off the previous loans before maturity.
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.