Mortgage Broker Recommendation?
My wife and I are looking for a mortgage broker (or we could go straight to the bank if that’s better) for the residential conversion of a commercial property in Brooklyn. Any one out there with a project like this? Total budget is around 400k so we’re not talking about crazy money here. I already…
My wife and I are looking for a mortgage broker (or we could go straight to the bank if that’s better) for the residential conversion of a commercial property in Brooklyn. Any one out there with a project like this? Total budget is around 400k so we’re not talking about crazy money here. I already spoke to Norman Calvo who is unable to do this type of financing. Since it is zoned residential, couldn’t this be considered a construction loan? I figure it’s like buying land with a head start.
Benjamin levin at Wells Fargo–don’t have his number handy but I have posted about him before–its always a joy to rec him because he makes the impossible possible
Don’t know if they do construction financing but I got acquisition financing for a commercial property through Commerce, now TD bank with around 25% down. Soon I plan to convert the commercial to residential and will need funds for build out so I’d love to hear what you find out.
We’ve had very good experiences with First Merchants (718-230-3400), although I can’t say whether they do this type of loan.