First Trust Deed collateralized by approximately 10 acres of residential land located near the Vista Cielo subdivision in North Las Vegas, Nevada. Vista Cielo is a 100 lot community owned and built by Harmony Homes. This residential land, along with another piece of land just to the south of this one will be developed into one of the last phases of the community. The main entrance to the subdivision is located across the street from the entrance to Shadow Creek Golf Course, with Mojave High School just west of the lot.
Loan Amount: $262,000
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.