Success Story
An existing client referred an owner/builder to Fidelis who was in the process of constructing a single-family investment property in San Diego County. With the project nearly 65% complete, the borrower needed additional funds to finish the construction.
Fidelis Private Fund provided a $350,000 first trust deed refinance construction loan based on a conservative estimate of value at completion of $1,500,000 or 23% LTV ratio.
The borrower plans to refinance with a conventional long-term loan.
Value Added
Fidelis enabled the borrower to refinance into a construction loan as owner/builder, saving the borrower considerable costs in finishing the project. The loan process was smooth and hassle-free throughout.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.