Loan options for mixed use properties

11 Replies

Anyone here have experience with mixed use property lending options? I am finalizing a deal for a 4 unit + 2 retail front property. So far I’ve only gotten quotes from banks for commercial loans with the usual 4-7 year terms and 20-25 year amortization. Any idea if I can get some other type of debt that might be longer term?

A few details:

- 300K loan

- 4 residential and 2 retail

- Retail is small, maybe 30% of Sqft

I am also looking at a 300K purchase with 1 retail ground floor & 3 residential rentals. Very interested in what banks anyone has worked with in NY State for mixed-use loans too. Or other options that are not double the residential rate. Thanks!

Same here - any lenders or banks I have spoken to are referring me to commercial dept. or other lenders. Just wondering what the experience has been for those doing this first time. The differences between commercial and residential investment property loans so far seem quite disparate... I should probably start a new thread and not further hijack this one :)

to answer the original question. most recent offer I 'm considering is 75% LTV 15 year, treasury rate plus 2%, adjusts at 5 and 10 years again to current treasury plus 2%.

This will absolutely be a commercial loan - In my experience, I have seen commercial loans as low as 5.5%. Can anyone recommend/verify a lender that can offer low rate commercial loans? 

Originally posted by @Reid Sullivan :

This will absolutely be a commercial loan - In my experience, I have seen commercial loans as low as 5.5%. Can anyone recommend/verify a lender that can offer low rate commercial loans? 

 Who you know that does 5.5%?