Updated over 1 year ago on . Most recent reply
Mixed use property Loan
Hey everyone. I am looking at a mixed use property and I am not too familiar with the loan options available.
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#3 Private Lending & Conventional Mortgage Advice Contributor
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Hi - typically Mixed Use properties are going to require a traditional commercial real estate loan from a bank, small balance commercial private lender or for the larger ones a CMBS style loan.
However, a newer "DSCR Loan" product for Mixed Use is making a comeback - which is a really great option for smaller properties/more beginner investors since it has all the same trappings as a residential DSCR Loan (30-year fixed, easy qualification, straightforward process) for a property with commercial units.
Generally going to be limited to 8 units max and has to be primarily residential in every way (majority residential by units, square footage and rents) but if it fits all that, its a great option