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LOAN SUMMARY | 7415 RATON ST 7415 Raton St, Houston, TX 77055

0f0443412af948817efee35317d6ed263973248a

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
6.4%
12 months
13.3%
$100,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
New Construction
First Lien
$100,000
Repaid on 10/24/2016
Started on
Funded on
Repaid on
Matured on
07/03/2014
10/19/2015
10/24/2016
10/26/2016

FINANCIAL OVERVIEW

After Repair Value (ARV)
$750,000
Total Project Costs
$200,000
$750,000
GROUNDFLOOR
$100,000
$100,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$120,000
Purchase Date
12/21/2014
Loan To ARV
13.3%
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
9
10
Quality of Valuation Report
1
4
Skin-in-the-Game
10
10
Location
5
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$750,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • New construction may be subject to delays and other unexpected issues.
  • The developer is contributing its own funds to the total project costs, which is reflected as a higher "Skin-in-the-Game" score.
  • 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
  • We generally charge borrowers an origination fee (which typically ranges between 2% and 6% of the principal loan amount) and a servicing fee (which typically ranges between 0.5% and 2%) for our services.
  • We do not take a "spread" on any part of the interest payments.
  • Borrowers 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, we will charge a penalty of up to 2% for any extension made to the Borrower. See “Fees and Related Expenses” in the Offering Circular.
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.