Bluemountain, Inc #4373 – UTAH – FUNDED

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Bluemountain, Inc #4373 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed single-family residential home in Magna, Utah (approximately 13 miles to the west of Salt Lake City, UT). Since acquiring the home over a year ago, the property has been fully rehabbed and is currently being rented. It is the borrower’s intent to season the asset further as a rental before paying off this loan with their long-term line of credit or to sell it. The home is approximately 1,160 square feet.

Loan Amount: $166,600

Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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.