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Cornerstone Commercial Mortgage Media

September 30th, 2005

Cornerstone Commercial Mortgage Arranges $540,000 Ranch Property “ Bridge ” Loan

Las Vegas , Nevada 

Cornerstone Commercial Mortgage arranged a short term bridge loan for two individual investors purchasing a 2.6 acre ranch property that included a small residential home and horse stables in need of repairs. The buyers were taking advantage of a distressed sale and needed to move fast. The buyers assumed a lease option agreement from the lessee and received credit for approximately $130,000 in option payments that were already paid and going towards the purchase price of $630,000. Cornerstone Commercial Mortgage found a lender that could move fast and accept the option payments as a legitimate down payment from the buyers as well as use the appraised value instead of the purchase price in calculating the LTV ratio. This resulted in the lender financing 95% of the cost to buyers. The appraisal came in at $750,000 or a 72% LTV.

Cornerstone Commercial Mortgage acts as mortgage consultants specializing in arranging commercial real estate financing for clients throughout Nevada and California. 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 on this transaction contact John Lloyd at 702-385-2658, 5765 S. Rainbow Blvd., Suite 102, Las Vegas, NV 89118 or see our web site at www.cmlv.net.