First Trust Deed collateralized by a fully developed single-family residential lot in Pleasant View, Utah. The lot is approximately 0.2 acres in size and is located near the corner of Pacific Avenue and 190 N Street in Clearfield, UT (approximately 30 miles to the north of Salt Lake City, UT and 10 miles south of Ogden, UT). The community is designed to primarily serve as starter homes for people who work at nearby Hill Air Force base which is one of the largest employers in the entire state. According to the 2012 Hill Air Force Base Economic Impact Study, the base generates a total of $3.31 billion in total annual economic impact with over 25,000 military and civilians that work within the base. On each lot, the borrower will be constructing three bedroom, two bath, rambler style single-story homes that totals approximately 1,388 square feet. Two of the homes will also include finished basements making the total livable area approximately 2,400 square feet.
Loan Amount: $800,000
Yield:(principal value > $100,000): 11.25%
Yield:(principal value < $100,000): 11.00%
Term: 8 Months with one optional eight month extension period at maturity.
These investment are on a first come, first serve basis.