Tailor Built Homes, LLC., #4455 – UTAH – FUNDED

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Tailor Built Homes, LLC., #4455 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed .3 acre residential lot located in Draper, UT (approximately 19 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a six-bedroom, four bath home. The home will be a total of 5,248 square feet with at least 3,926 square feet of finished space (does not include the partially unfinished basement).

Loan Amount: $675,000

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.