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Cornerstone Commercial Mortgage arranges an $1,000,000 Permanent Loan on a 17 bay Self Service Car Wash in Houston, TX

Houston, TX, July 9, 2007.  Cornerstone Commercial Mortgage arranged a $1,000,000 permanent loan for a buyer to purchase a 17 bay self-service car wash in Houston, TX.  The purchase price was $1,250,000 with the seller in foreclosure. Difficulties in arranging financing included: the buyer being a remote owner/operator living out of state, the property having some deferred maintenance and the seller not providing sufficient cash flow statements to support stated income.   However, despite these difficulties Cornerstone Commercial Mortgage was able to arrange a loan for 80% of the purchase price that was structured as a 504 SBA loan combined with a conventional bank loan.
Cornerstone Commercial Mortgage acts as mortgage consultants specializing in arranging commercial real estate financing for clients nationwide.  Cornerstone Commercial Mortgage manages every detail of the loan process from start to finish and assists clients in all aspect of financing from consulting on the feasibility of a real estate development project to obtaining the right construction or permanent loan. 

Cornerstone Commercial Mortgage’s Mission is to provide our clients the best loan at the most competitive terms in the shortest time possible while keeping their best interest in mind.  For more information see our web site at
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Cornerstone Commerical Mortgage
A Commercial Real Estate Mortgage Company