Vestin Mortgage

Vestin is a short-term real estate and construction lender, which holds a mortgage broker's license in Nevada.  Vestin obtains borrowers through referrals, repeat business, and other licensed brokers in compliance with Nevada law.  Vestin funds loan requests primarily through Vestin Fund I or Vestin Fund II, which are fully registered securities funds for which Vestin is the manager, or in combination with their own funds and lines of credit.  Since 1995, Vestin has brokered approximately 800 loans totaling about $1.8 billion.  Currently they service 118 loans with approximately $442 million outstanding.  Most of their loans are between $2.5 million and $10 million, although they have closed several loans between $10 million and $45 million.  The Vestin loans are for one year, but they will consider extending loans for up to an additional year if a borrower has performed as agreed and meets other qualifying criteria.

Vestin Mortgage Loan Options

Vestin funds loans for a specific clientele.  They do not fund home purchase, refinance, equity or any other personal loans.  They are strictly a commercial lender.  Each loan will be considered separately, as each business scenario is an individual case.  Automated loan processing is not an option with these types of loans.   Their offerings are as follows:

• Commercial Real Estate Loans (between 35-60% Loan to Value)
  
• Land, Commercial or Residential Lot Development (between 50-60% Loan to Value)
  
• Vertical Construction Loans (between 60-75% Loan to Value)
  
• Bridge Loans  (up to 75% Loan to Value)

The  principal investment objectives of Vestin are to:  produce revenues from the interest income on their mortgage loans; provide quarterly cash distributions from the net income earned on their real estate loans; and reinvest, to the extent permissible, payments of principal and sales (net of expenses).

About Vestin Mortgage

Mike Shustek, Founder and Chief Executive Officer of Vestin, began making real estate loans in Southern Nevada in 1990.  Since then, Vestin has expanded its portfolio outside of Nevada with commercial real estate loans in 13 states.  Vestin serves an assortment of borrowers, seeking loans on income, acquisition, development and construction properties, as well as raw or unimproved land.  They also serve those who need very short term, bridge financing, to allow them time to obtain permanent financing.

A developer or investor interested in dealing with Vestin Mortgage can visit their office or give them a call.  They may also fax or e-mail for information.  It is best that the potential borrower or investor use Internet Explorer to view the Vestin website.

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