fefe's Profile

  • fefe
  • 1977
  • 2005
  • Brooklyn
  • Fort Greene
  • Co-op
  • Administrative assistant
  • Female
  • 39
  • http://www.superior-create.com

Author's Posts

May 13, 2008

Finding a Mortgage for mixed used property

I want to purchase a mixed used property with 5% down and an 80/15. I am having a hard time trying to get to get a mortgage. The property has 2 rentals and 1 store under 600000. The store is the only thing that needs work. Can someone advise me on how I can purchase this property?

Author's Comments

Thanks 9:26

Posted by: fefe at May 14, 2008 11:42 AM in response to Finding a Mortgage for mixed used property

Responses to Author's Forum Comments

Try Commerce. We got a commercial mortgage with them at 25% down.

Posted by: guest at May 14, 2008 11:57 AM in response to Finding a Mortgage for mixed used property

11:57 what was the rate?

Posted by: guest at May 14, 2008 12:54 PM in response to Finding a Mortgage for mixed used property

The reason people post is they are simply asking for more information. There is no need to burn people simply for asking a question.

Posted by: greendaniel at May 16, 2008 9:14 AM in response to Finding a Mortgage for mixed used property

As a commercial/residential property owner, I agree with 9:16 and 9:26.
You should put down at least 30%. Save some more money. I put down 50% on my property and the terms were still not great (820 credit score).

Posted by: guest at May 16, 2008 9:24 AM in response to Finding a Mortgage for mixed used property

An FHA mortgage may be a possibility. FHA does provide mortgages on mixed use properties. You must live in one of the aparments.

Posted by: guest at May 17, 2008 12:29 PM in response to Finding a Mortgage for mixed used property

Do you intend on owner occupying the property?

Call me
718-238-7222

Posted by: MrMortgageMan at June 20, 2008 2:12 PM in response to Finding a Mortgage for mixed used property