Fidelity Mortgage

Fidelity Mortgage Lenders Inc. was founded in Southern California in 1971.  At the time, they were known as Fidelity Home Loan Inc, and specialized in residential equity loans.  Now, they make loans on both residential properties and commercial properties.  They have always operated solely in California.

Applying at Fidelity Mortgage

You can apply for a mortgage by filling out a loan request form on the internet, or you may call Fidelity to speak with a loan advisor.  A loan advisor will make an appointment to meet you at your property to discuss your options.  You may get an immediate approval at this meeting.  They can close most loans in as little as ten days if you do not need a property appraisal. 

If you don’t know the value of your home, Fidelity will order an appraisal with a commitment to loan you 55% of the appraised value.  They are more conservative than institutional lenders because they don’t require any of the paperwork a bank would need to approve your loan.  They do not require tax returns, financial statements, 1003 forms, or loan committee approval.  All they require is proper equity in your property.

Fidelity does not charge loan application fees.  Their money comes from private investors, so they are able to make quick decisions regarding your loan.  They do not have any pre-payment penalties.

Fidelity Mortgage Loan Options

Fidelity Mortgage finances loans for the following types of residential properties: single family residences, duplexes, condominiums, and multifamily residences (up to four units).

Fidelity can customize a loan for your particular needs.  Since they are a direct lender, Fidelity has flexibility in their loan choices.  Fidelity is also able to offer mortgages to people who have difficulty getting loans from other companies due to poor credit history, self-employment, or unemployment.

Fidelity offers commercial loans in addition to residential loans.  They will finance the purchase of the following types of properties: land, retail, apartments, factories, strip centers, office buildings, warehouses, industrial, no-profits, churches, temples, mixed-use, single-use, automotive, non-owner occupies, properties in bankruptcy, and non-conforming properties.

Fidelity does not require financial statements, tax returns, 1003s, or P&L’s for commercial mortgages because they base their loans on the property’s value, not the borrower’s credit.  They can loan anywhere from $50,000 to $15 million or more.

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