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January 14, 2009
mixed use financing
Recently, Onefineday posted asking for tips on getting financing for a mixed use property. I`ve been trying to do this to no avail and I`ve already got 100% down. None of my property is being used commercially.
It`s a 2fam townhouse with a detatched garage. The commercial C of O is on the detatched garage, which was once used as an autobody shop many years ago. Wells Fargo says there`s a $3m minimum for a commercial mortgage and to do a residential mortgage, the commercial element must be less than 25% of the total square footage.Does anybody know of a bank who could finance mixed use? Speculation won`t help me- I need a phone number. Thanks!
Comments
send me the C of O and I'll run it by my underwriter and bank attorney. I am a direct lender.
-Adam
adahill@approvedfunding.com
Posted by: Adam Dahill at January 14, 2009 9:41 PM
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