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
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
Thanks 9:26
Posted by: fefe at May 14, 2008 11:42 AM in response to Finding a Mortgage for mixed used property