Currently Funding - Henderson, NV - Purchase

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Recently Funded

Loan Amount: $975,000
 
Collateral: Note secured by 1st Trust Deed on property in Henderson, Nevada. The property is currently improved with a custom-built, 4,745 sq.ft. home with 4 bedrooms, 4.5 baths and three- car garage. The home includes a new tennis court, large pool/spa, and covered barbecue area. The home was built in 2016 and is in excellent condition.
 
Purpose: To provide purchase financing for home in Henderson. Purchase price is $1,400,000. There will be a 2nd TD in the amount of $150,000 subordinate to our loan. Borrower’s cash equity in the transaction will be in excess of $300,000.
 
Loan-to-Value: 69.6%. An appraisal provided by AppraiseVegas LLC dated September 17, 2019 indicates a value of $1,400,000.
 
Interest Rate: 11.5% per annum, paid monthly. 
 
Minimum Interest: 120 days minimum interest guaranty.
 
Term: 12 months.
 
Borrower/Guarantor Profile: Successful social media entertainer and former member of the US Navy. He is purchasing the Dufort Hills property as an investment.
 
Loan Servicing: Loan servicing will be provided by US Loan Servicing in Las Vegas at Borrower’s cost.
 

RISK DISCLOSURE All real estate markets can be negatively affected by interest rates, availability of capital, supply and demand factors, and general economic conditions both locally and nationally. The investor should review this proposal with these risk factors in mind, and base the investment decision on both existing market conditions and potential changes in the economy, as well as the investor’s personal objectives and risk tolerance.

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