CornerStone Commercial Mortgage Company

 


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Commercial Mortgage

 

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Cornerstone Commercial Mortgage
Arranges Financing for a $1,300,000 Bridge Loan
 on a 4429 sq. ft. Single Family Residence, San Diego, CA

10 16 09 

San Diego, CA, October 19, 2009.  Cornerstone Commercial Mortgage arranged a $1,300,000 private money bridge loan (68% LTC) for a borrower to purchase a 4,429 sq.ft. owner-occupied single family residence in North County San Diego.  The borrower purchased the home for $1,925,000 and the seller carried back a 2nd DOT for $125,000. As a foreign national, the borrower had difficulty getting conventional financing; however, two weeks after getting the request Cornerstone Commercial Mortgage was able to provide a loan commitment and within 30 days of executing the purchase contract fund the loan.  The borrower did not mind paying a little more for private money because getting the home at such a good price far outweighed the cost of private money. The borrower was extremely pleased that they were able to get the loan closed in such a short time.

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 www.cmlv.net.

 
© Copyright 2017
Cornerstone Commerical Mortgage
A Commercial Real Estate Mortgage Company

CA BRE License #01376920