Anyone able to provide a LOC on mixed use property?

Question

Property is now worth approximately twice as much as the debt -over $1mm and. It's a 3 unit that would be 100% leased up by end of August and would be well over 1.25 dscr. Anyone can prove 80% ltv ?

Upen Patel · Answer

@Anthony Goulbourne As mentioned by Eric, your options will depend on if the property is a primary residence OR an investment. Also, the residential sq ft % has to be at least 51% to get any sort for 30 yr fixed rate. Else you are looking at commercial loan options, with short term and short amortization.

Erik Estrada · Answer

80 LTV on a Mixed-Use will be tough. 75% LTV is doable as long as it is primarily residential. If it is truly a commercial mixed-use building, 65-70 LTV is the typical range for an asset type like this.

Anthony Goulbourne · Answer

@Erik Estrada thanks Erik

Anyone able to provide a LOC on mixed use property?

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