Residential or commercial loan-owner occupied

Residential or commercial loan-owner occupied

Investor · bristol, RI · Member since 2017 · 52 posts · 19 votes
Would a 4 unit with 3 residential and 1 office qualify for a residential conventional loan? If I occupy the office space for my business, does it make it eligible for owner occupied financing?
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  • Loan Officer / Processor / Life & Health Agent · Rancho Cucamonga, CA · Member since 2014 · 1k+ posts · 757 votes
    9y
    Originally posted by @Adam R.:

    Would a 4 unit with 3 residential and 1 office qualify for a residential conventional loan? If I occupy the office space for my business, does it make it eligible for owner occupied financing?

     This would be considered mixed use and your best bet is to obtain a commercial or portfolio loan.

    I hope this helps and have a great day.

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