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Updated 11 months ago on . Most recent reply

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Taylor Johnson
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Mixed use property with a conventional loan

Taylor Johnson
Posted

Hello, I'm currently looking at purchasing a property that has two separate buildings, one zoned commercial and one residential. The commercial building looks as if it was used as a music studio and also an apartment. I'm wondering if this would qualify for conventional financing, or I would be looking at commercial loans only. Most examples I could find involve a single dwelling with mixed use rather than two separate buildings. My lender seems a little iffyy, I'm not sure if how I describe my intended use of the property will influence if they give me a loan. If any has any experience with this, it would be appreciated. Thanks in advance.

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