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Cornerstone Commercial Mortgage arranges a $3,830,800 loan
at 4.75% fixed for 32 years on an Assisted Living Alzheimer’s facility, La Jolla, CA
La Jolla, CA February 28, 2011. Cornerstone Commercial Mortgage arranged a $3,830,800 permanent loan to refinance an existing higher cost FHA loan on a 27 resident capacity Alzheimer's care facility in La Jolla, CA. The borrower was looking for the lowest, long term fixed rate available in the market. Cornerstone Commercial assisted the borrower in arranging a 223(a)(7) streamlined FHA loan refinance at 4.75% fixed rate for 32 years fully amortized. With the HUD refinance no cash out we were able to waive the third party report costs with no requirement for an appraisal and close relatively fast for a HUD loan. The borrower was able to reduce his monthly mortgage payments considerably with the new low 4.75% rate. Cornerstone was able to accommodate the client’s request while providing excellent customer service.
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.
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