Refinancing A Mixed Use Property
By definition a mixed use mortgage are those in which the property being used as collateral is used for both commercial and residential. This is generally the case when living quarters or apartments are above a shop or some sort of commercial enterprise on the ground floor. In order to refinance the mortgage on one of these properties, the value of the property itself as well as the income of the borrower are taken into account. We can help to refinance these types of loans since we are up to date on all the new lending requirements and regulations.
The income from the property will need to be fully documented and may have to be proven for up to one year prior to the loan request. This may be separate from the proof of borrower income required. By using our company the borrower can be assured they will get the best terms from a variety of products available.
Mixed Use Mortgages don’t have to be complicated as long as you have our loan professionals at your side. We have the latest information on mixed use mortgages and any other mortgages at our fingertips. The wide range of programs we have access to ensures you get the best possible mortgage product.
Once you have contacted us we will inform you of all the required documentation needed to gather for an immediate approval. Don’t hesitate to contact us and speak to one of our licensed loan consultants.