Updated over 3 years ago on . Most recent reply
Added an ADU to my 4-unit, can I refi without going commercial?
I'm finishing up a lot of improvements to a four unit that I purchased in 2020. One of those improvements is a Junior ADU, which is technically a 5th unit. I've got a lot of new equity in this place and wanted to refinance but I keep reading that I'm now only eligible for commercial loans. This is the only property I own and it's my primary residence so I don't think I'm particularly attractive to commercial lenders. Is there any way to keep a residential loan with the 5th unit?