Mixed Use Commercial Loans
Mixed use properties consist of retail and residential units in one building. These properties offer both commercial and functional benefits, but first you have to own one.
Commercial mixed use loans are available for acquisition, renovating or refinancing of mixed use properties. These loans offer you flexible financing options and reasonable repayment rates. You can also access stated commercial loans for your project.
What to Expect from the Lender
The lender usually matches your property type and its location with the right commercial loan. For mixed use loans, you get a loan term of 30 years, even 40. You need to pay a down payment, which ranges from 3 percent to 20 percent depending on the lending terms and the size of the loan. The size of the loan also affects the interest rate you pay.
The lender looks at the strength of the property leases before considering your loan application. These leases are important because they tell the lender what the cash flow is, which goes ahead to show your repayment capacity.
These loans can be fixed or adjustable rate. Fixed loans mean you pay a standard part of the principal and interest each month. On the other hand, the rate changes for adjustable-rate mortgages (ARM) according to the prevailing market rates.
Do You Need Fast Commercial Loan Processing?
At Mixed Use Mortgage, we utilize state-of-the-art loan processing tools to submit your application efficiently. We have taken time to identify trustworthy lenders who have the capacity to offer you commercial mixed use loans at low interest rates. These lenders are ready to finance your commercial purchase, commercial refinance or cash-out for mixed use properties.
To avoid any delays, we need you to submit the necessary information upon request so that we can analyze your application and advice you accordingly.
Don’t hesitate to give us a call and discuss your options, consultation is free and never a fee.