how to make a 4 unit property into a 5 plus unit in Brooklyn

[Randy Havens]

Hi there!

I finally got a HELOC loan for my 4 unit residential building in Brooklyn, NY. I would like to split each apartment into two. Starting one at a time. However I have a residential mortgage, and the HELOC is for a residential as well. Once I split one apartment, I believe the building will be no longer residential, and become commercial. Would this trigger my mortgage and HELOC lenders to terminate my loans? The only way is to do this and refinance with a commercial lender? Please advise!!

Thank you,

Randy