Refinance residential mort to commecial mort

[Ali Hall]

Hello,

Has anyone on BP been able to take the residential loan and refinance it into a commercial loan? Someone from BP provided me with this idea and I am wondering has anyone successfully performed this. I have a few questions below.

-What are the loan requirements?

-How expensive is this process? (Fees, appraisal, rate increases, Insurance etc)

-IF there is an LLC created and this is able to happen, is it still reported to the credit bureaus on your personal report?

-Can you provide a brief overview of your experience?

Thanks to all whom participate