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Updated over 1 year ago on . Most recent reply

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Charlie MacPherson
  • China, ME
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Working equestrian property - residential? Commercial?

Charlie MacPherson
  • China, ME
Posted

I'm working to sell an equestrian property in a very high priced town in the Boston, MA area.  Gorgeous colonial home, 10 acres, 25 stalls renting at $1,000/month each plus a guest house renting at $2000/month, plus other outbuildings, paddocks, tack building, etc.  We're priced in the $2M range.

If someone wants to buy this property and live there, will they be able to get a standard (jumbo) residential loan?  Or will they need a commercial loan because it's capable of generating so much income?

If it's commercial, what would a loan package look like in terms of down payment and interest rates vs a residential loan?

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