C

LOAN SUMMARY | 120 Brookhill W, Lexington, SC 29072

BORROWER

AC Home Deals, LLC
Arthur Kelly - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
10%
12 months
62.8%
$186,640
0
Purpose
Loan Position
Total Loan Amount
Loan Status
New Construction
First Lien
$186,640
Repaid on 04/13/2022
Started on
Funded on
Repaid on
Matured on
07/27/2021
01/26/2022
04/13/2022
07/26/2022

FINANCIAL OVERVIEW

After Repair Value (ARV)
$297,000
Total Project Costs
$219,640
$77,360
GROUNDFLOOR
$186,640
$33,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$21,500
Purchase Date
05/21/2021
Loan To ARV
62.8%
Loan To Total Project Cost
85.0%

Grade Factors

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

VALUATION REPORTS

As Complete (ARV)
$297,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

120 BROOKHILL W, LEXINGTON, SC 29072
The Borrower intends to use the loan proceeds to complete a new construction. Upon completion, the Borrower intends to sell the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on July 27, 2021 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower is now in possession of the property. If this offering is fully subscribed, Groundfloor will continue to administer and service the loan as further described in the Offering Circular.
  • The renovation of the property may be extensive, and therefore subject to delays and other unexpected issues.
  • The renovation will require permitting, and permits may not be obtained on time or may be denied.
  • Please consult the Offering Circular