Having difficulty finding a bank that offers FHA on mixed use properties.

I’ve been having some difficulty finding a bank that would offer an FHA option for a mixed use property (2 residential, 1 store/office). Has anyone had success getting one? if, which bank(s)? In addition, if i were to find a bank that offers this package, what kinds of hurdles should i expect to encounter before loan is approved (e.g. appraisal, state/local ordinances, etc)?

Guest User | 7 years and 3 months ago

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vthatcher | 7 years and 3 months ago

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No I dont. But I do alot in Brooklyn. If you would like I am free to chat in am by phone.

mjkelly

in Home Buying 7 years and 3 months ago

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@vthatcher Do you have an office in Brooklyn?

vthatcher | 7 years and 3 months ago

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I did one a few months ago in Brooklyn. And I do them.
Must be owner occupied and 51% or more residential. Call me 631-672-4113
Vthatcher@athccorp.com

Vanessa Thatcher
Atlantic Home Capital

yudashasom | 7 years and 3 months ago

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It is possible – I’ve had many of them over the years with different lenders.

The most recent were done by Chase.

You’ll have to pay for the appraisal and most likely an environmental.

resident2 | 7 years and 3 months ago

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The FHA program is NOT for commercial buildings of any kind. 100% residential only.