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5313 Arctic Blvd.
Suite 206
Anchorage, AK 99518

Phone: 907-279-8551
Fax: 907-274-7630
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Invest In Mortgages


HOW TO INVEST

The Borrowers are now accepting Investment Reservations from prospective Lenders on a first come, first served basis. (Two have already been accepted). You may invest individually, through your company or a self directed retirement plan. When the Herkimer Lake Cozy Homes development is nearing completion, investors holding Investment Reservations will receive a complete Lender's Investment Package containing the following:

  • Lender's Investment Agreement—This document will outline detailed terms of the agreement to lend. It will require a $5,000 Earnest Money Deposit to be held in trust by First Mortgage Inc., securing your right to make a loan upon completion of the home securing your loan.
  • Preliminary Title Insurance Report—This will outline the condition of the title on the home that will secure your loan.
  • Promissory Note—This is the promissory note that will be signed by the Borrower agreeing to the terms of repayment on your loan.
  • Deed of Trust—This is the legal document to be signed by the Borrower that will pledge the home as security for your loan.
  • First Mortgage, Inc. Collection Instructions—These instructions will provide for the Borrower to pay you through collection escrow and will instruct First Mortgage how to transmit funds to you and how to report your income.
  • Insurance Proposal—This will outline the terms of the proposed insurance on the home, with you as a Loss Payee, in the event of damage to the home during the term of your loan.
  • Upon the completion of the home that will secure your loan you will receive exterior and interior photos and you will have seven days to physically inspect the home before funding the balance of the loan and the loan closing at the title company.

Prior to submitting an Investment Reservation, it is important that you review the "Why Invest in Mortgages " and the "Mortgage Investment Tutorial" sections of this website. If you are unfamiliar with any terms be sure to review the "Glossary" section of this website.

To apply for an Investment Reservation CLICK HERE

Mortgages



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