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LOAN SUMMARY | 244 TIMOTHY DR, DALLAS, GA 30132 244 Timothy Drive, Dallas, GA 30132

C3e65ce17989ef9f5c9ab8f2f7772f9e67bd0ae1

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9.2%
12 months
55.3%
$105,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
New Construction
First Lien
$105,000
Repaid on 02/03/2017
Started on
Funded on
Repaid on
Matured on
11/11/2015
01/25/2016
02/03/2017
03/29/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$189,900
Total Project Costs
$210,000
$189,900
GROUNDFLOOR
$105,000
$105,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$5,000
Purchase Date
05/29/2015
Loan To ARV
55.3%
Loan To Total Project Cost
0.0%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
3
10
Quality of Valuation Report
2
4
Skin-in-the-Game
3
10
Location
2
8
Borrower Experience
3
5
Borrower Commitment
2
1

VALUATION REPORTS

As Complete (ARV)
$189,900
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The lot is serviced, and is underwritten as new construction on developed, serviced land.
  • There is no existing structure on this property, or if there is, it will be demolished.
  • The security interest will initially be in the value of the land, and will include any fixtures, and eventually the structure as it is completed.
  • New construction is complex and subject to permitting, and there may be delays or other unexpected issues.
  • We have limited experience in making loans for new construction projects.
  • It may be more difficult to collect against an uncompleted new construction project.
  • We have no experience in managing or completing construction projects that go into default.
  • Please consult the Offering Circular for further discussion of general risk factors.
CLOSING CONDITIONS
  • Loan is conditioned upon a clean title search and valid title insurance at the time of close.
DEVELOPER FEES
  • GROUNDFLOOR generally charges borrowers between 2% and 6% of the principal amount of the loan for our services.
  • GROUNDFLOOR does not take a 'spread' on any part of the interest payments.
  • Developers may capitalize the cost of closing into the principal amount of their request. These closing costs typically range from $500 to $1500.
  • Unless otherwise limited by applicable law, GROUNDFLOOR will charge a penalty of 2% for any extension made to the borrower. See GROUNDFLOOR 'Fees and Expenses' in the Offering Circular.
SEC FILING INFORMATION
  • The series of LROs corresponding to this Project are offered pursuant to Post Qualification Amendment No.1 to the Offering Circular dated December 8, 2015 (each, as amended and supplemented from time to time), including the documents incorporated by reference therein. You may access and review these documents on the Internal Filings Directory located on our Platform.
THE COMPANY PLAYED NO ROLE IN THE PREPARATION OF ANY OF THE VALUATION SOURCES OR ANY OTHER MATERIALS PROVIDED BY THE BORROWER. WHILE WE BELIEVE THE DATA CONTAINED THEREIN IS HELPFUL, WE DO NOT USE IT AS THE SOLE BASIS FOR A FUNDING DECISION.