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Mixed Use Property Loan

I found a mixed use home that I’m really interested in buying but the property is zoned commercial. Do I have to get a commercial loan to? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

 · I am trying to determine if the home equity loan that I took out is mixed-use and how do I enter it into Turbo Tax Premier so that it is reported correctly. I took out a $175,000 home equity loan, secured by my main home, on property with FMV greater than $200,000. $85,000 was used to pay off my original mortgage. $90,000 was used to pay off school loans.

FHA Loans For Mixed-Use Property. FHA loan rules permit the purchase of properties between one and four units. For mixed-use property, commercially zoned residential property or other non-traditional purchases, HUD 4000.1 states: "The non-residential portion of the total floor area may not exceed 49 percent.

The type of loan you’ll be offered for a mixed-use property varies depending on your situation, the lender and the property in question. While most lenders will classify mixed-use properties as commercial lending because of how the properties are zoned, others may decide to offer you a residential loan.

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FHA Loans For Mixed-Use Property. A reader got in touch with us in the comments section recently about purchasing mixed-use property with.

Hence, loans for mixed use property include both short-term and long-term financing. Equally important, the construction/rehab phase is financed by.

Mixed Use Commercial Mortgages – Nationwide Financing A mixed-use development is the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses.

 · The generic answer is that the VA does approve home loans for mixed-use properties, but there are a series of conditions which apply. The commercial use of the property must be “subordinate to the residential” use of the property. Commercial or non-residential use of the building is limited to 25% of the total floor space.

Private Money Loans & Financing are available for all Mixed Use building & Residential properties 1-4 unit (owner Occupied and Non-Owner Occupied – Business Purpose Loans Only) and other Commercial properties.private money lenders & investors fund loans based on Equity in the Mixed Use Property and have Simple Loan Guidelines & Requirements.

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