Want to learn commercial interest rate mortgage right now?

[Johanna Montanez]

I just begin in this journey and I found a good deal (I though). It's a foreclosure and for my surprise the Local is commercial. The property has 1st floor (Commercial for DR office or other service) and in the 2nd floor a house for renting. The second floor have a potential to converting to a multifamily. I use the BP calculator to help me in this decision. In order to have a quick estimate I use the 2% and 70%. For my surprise  in my number I has the 80% bank mortgage but they will give me the 100% of the value but at 6% interest because the local is commercial.  I still working to confirm the utilities cost with an inspector. Next Tuesday I will know the impact to avoid surprise factor after closure. I was not consider commercial but I get one.  I just want to know about commercial mortgage %, if I need to consider other bank for the commercial % interest rate. Others bank will not give me the 100% of the total mortgage. The contract signed has an exit strategy. 

My question is: This is usually the interest rate? 

Cost: 80,000 (Deal)

Price before foreclosure: $185,000

Rehab estimate cost: $30,000 (probably need more working on this)

1st Floor can be rent $2,500 Month

2nd Floor Airbnb: $1500Month

Only closing cost I need to put for my mortgage.  They cover all others appraisal, etc.