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So far Ignite Funding has created 21 blog entries.

Vita Watt Elliot, LLC #4636 | ARIZONA – FUNDED

The collateral for this loan is 22.51 acres of land near the Northeast corner of 59th Ave and Elliot Rd in Phoenix, AZ (approximately 15 miles southwest of downtown Phoenix, AZ). Since the borrower went under contract to acquire the site over a year ago, they have successfully worked with the city to approve a 249-unit apartment complex. Of the 249 units, 38 are studio apartments (15%), 62 are one bedroom (25%), and 149 (60%) are two-bedroom units. The borrower anticipates receiving their grading permit and construction loan in six months, at which point the loan will be paid off. The construction loan for this project will go towards the total project cost of $46,000,000. Loan Amount: $3,800,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional nine-month extension period at maturity.  

Court Hampton Holdings #4593 | NEVADA – FUNDED

First Trust Deed collateralized by 16 mostly developed residential lots located in the Highlands community which is located ten miles east of Las Vegas, NV. Harmony Homes have sold out of the community directly to the west which they have been selling since 2010. The newly closed subdivision to the west had over 300 lots which were sold with an average sales price of $275,000 over the past year. This new community known as the Highlands consists of 94 lots which are roughly the same size as the previous community. The borrower intends to build the exact same homes that have sold in the previous community that range from 1,739 – 2,573 square feet and will start with an average sales price of $280,000. Loan Amount: $705,500 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 6 months with one optional 6-month extension period at maturity.

Bizmasters, Inc. #4299 | NEVADA – FUNDED

First Trust Deed collateralized by a 3,168 square foot two story home located in Paradise, NV (approximately five miles south of Las Vegas, NV). Since acquisition in December of 2015, the borrower has been rehabbing the property and is currently 90% completed. It is anticipated that by the end of May all work will be done on the property and be in a position to sell to an end user. Loan Amount: $278,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Six months with an optional six month extension at maturity.    

Court Hampton Holdings, LLC | Loan #4286| Nevada – FUNDED

First Trust Deed collateralized by a fully constructed single-family residential in Las Vegas, Nevada. The home is currently being utilized as a model home in the Daybreak Community. The home is approximately 1739 square foot 3 bedroom home with loft and upstairs laundry. Loan Amount: $202,000 Yield:(principal value > $100,000): 10.00% Yield:(principal value < $100,000): 10.25% Term: Six Months with an optional six month extension at maturity. These investment are on a first come, first serve basis.

Harmony Homes California, LLC | Loan #4277| California – FUNDED

First Trust Deed collateralized by approximately .87 acre fully improved residential lot located in Corona, CA (approximately 25 miles east of Anaheim, CA). Since the property was acquired by the borrower in June of 2013, they have successfully completed a tentative map for the property allowing 14 estate sized lots ranging from 0.51 acres to 1.1 acre (TTM 32241). The lots make up Amber Ridge Estates, an upscale neighborhood featuring exceptional single-story homes offering floor plans from 4,293 to 5,427 square feet selling for approximately $1 million each. Loan Amount: $250,000 Yield:(principal value > $100,000): 10.00% Yield:(principal value < $100,000): 10.25% Term: Six Months with an optional six month extension at maturity. These investment are on a first come, first serve basis.

Court Hampton Holdings, LLC | Loan #4231

First Trust Deed collateralized by approximately 7.23 acres of partially improved residential land. This parcel of land represents the next phase of the Daybreak community, located approximately 8 miles east of Las Vegas, Nevada. The property currently has a tentative map in place to allow for the development of 59 lots roughly .12 acre in size. As it currently stands, the lots are graded but not all of the underground work has been completed, nor any of the finishing work (curbs, gutters and streets). Development will commence in early 2016 and is anticipated to be completed by August, 2016. Harmony Homes has almost sold out of the first phase of the community which the have been selling since 2010. Loan Amount: $1,170,000 Yield:(principal value > $100,000): 11.25% Yield:(principal value < $100,000): 11.00% Term: 6 Months with one optional 6 month extension period at maturity. These investment are on a first come, first serve basis.

Elation Homes, LLC | Loan #4223

First Trust Deed collateralized by 80 approximately 0.46 to 0.65 acre fully developed residential lots located in Valley Heights community in Moapa Valley, Nevada (approximately 58 miles northeast of Las Vegas, NV and 73 miles southwest of St. George, UT). The subdivision includes over 15 homes that are either completely finished or under contract to be built in the next 30 days. It is anticipated that the borrower will be selling homes at a rate of seven units per year.  Loan Amount: $800,000 Yield:(principal value > $100,000): 11.00% Yield:(principal value < $100,000): 10.75% Term: 12 Months with one optional 12 month extension period at maturity. These investment are on a first come, first serve basis.

ME 250, LLC | Loan #4222

First Trust Deed collateralized by roughly 5.07 acres of land zoned R-2 located within the Mountain's Edge Master Plan Community in Southwest Las Vegas, Nevada. The Mountain's Edge Master Planned Community includes 12,500 residential lots covering more than 3,500 acres. The borrower has been working with the city for over a year in order to get the zoning changed from C-2 zoning into R-2 zoning which has recently been approved. The current R-2 zoning allows for two homes per acre. In addition to the zoning change, the borrower has received a tentative map approval which will allow for the development of 24 single family residential lots.  Loan Amount: $1,235,000 Yield:(principal value > $100,000): 9.25% Yield:(principal value < $100,000): 9.00% Term: 24 Months with one optional 12 month extension period at maturity. These investment are on a first come, first serve basis.

Court Hampton Holdings, LLC | Loan #4210

First Trust Deed collateralized by approximately 12 lots of a 9.06 acre, partially improved residential land. This parcel pf land represents the next phase of the Daybreak community, located approximately 8 miles east of Las Vegas, Nevada. The property currently has a tentative map in place to allow for the development of 57 lots roughly .12 acre in size. As it currently stands, the lots are graded but not all of the underground work has been completed, nor any of the finishing work (curbs, gutters, and streets). Development is anticipated to be completed by August, 2015. Harmony Homes has almost sold out of the first phase of the community which they have been selling since 2010.  Loan Amount: $745,200 Yield:(principal value > $100,000): 11.25% Yield:(principal value < $100,000): 11.00% Term: 6 Months with one optional 6 month extension period at maturity. These investment are on a first come, first serve basis.

Harmony Russell, LLC | Loan #4201

First Trust Deed collateralized by 15 fully developed lots located  in Paradise, NV (approximately seven miles east of Las Vegas, NV). The community consists of 18 total lots, two of which have already been sold to end home buyers and one that is schedules to close at the end of April, 2015. Home prices in the community start at $310,000 although the three sales the borrower has so far are for an average of $381,000. It is expected that the remaining 15 lots will be sold within the duration of this loan at a pace of 1.3 per month.  Loan Amount: $1,230,000 Yield:(principal value > $100,000): 11.25% Yield:(principal value < $100,000): 11.00% Term: Six Months with one optional six month extension period at maturity. These investment are on a first come, first serve basis.

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