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Updated almost 5 years ago on . Most recent reply
Loan options for mixed use properties
Anyone here have experience with mixed use property lending options? I am finalizing a deal for a 4 unit + 2 retail front property. So far I’ve only gotten quotes from banks for commercial loans with the usual 4-7 year terms and 20-25 year amortization. Any idea if I can get some other type of debt that might be longer term?
A few details:
- 300K loan
- 4 residential and 2 retail
- Retail is small, maybe 30% of Sqft