LOAN SUMMARY | 408 Messner Street, Salisbury, NC 28144
BORROWER
New Construction |
New Construction |
GROUNDFLOOR is pleased to announce that this loan has repaid in full. Please refer to your dashboard for repayment details.
GROUNDFLOOR has received a payoff request good through June 14, 2022. Please keep in mind closing dates are subject to change.
The borrower has advised the project is nearing completion, and Certificate of Occupancy is in progress.
The borrower has advised that gutters are complete.
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete or in progress:
The borrower has advised that HVAC rough is complete.
The borrower has advised that rough-ins are in progress and insulation is scheduled.
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete:
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete or in progress:
Foundation - 100%
Slab - 100%
Permitting - 100%
Plumbing rough - 30%
The borrower has advised the following renovations are complete:
The borrower has advised that framing is complete.
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete or in progress:
FINANCIAL OVERVIEW
After Repair Value (ARV)
$200,000
Total Project Costs
$148,330
$51,670
GROUNDFLOOR
$133,480
$14,850
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$16,100
Purchase Date
05/07/2021
Loan To ARV
66.7%
Loan To Total Project Cost
90.0%
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Grade Factors
The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
Quality of Valuation Report
Skin-in-the-Game
Location
Borrower Experience
Borrower Commitment
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VALUATION REPORTS
As Complete (ARV)
$200,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps
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