Residential or commercial refinancing??

[William Bowers]

Good evening, 

I am in in the process of refinancing one of my multi family properties (2unit). I now have a choice to either do a residential or commercial refinance. I have never done a commercial refinance. Would it be beneficial to pay the extra money for the commercial appraisal since it is just a 2 unit property?? Can someone explain to me how the valuation is calculated when doing a commercial loan?

Property details:

102k Purchase price (no debt owed)

Monthly income $2,750

[Nate Sanow]

I don’t think the valuation is different at all. Really the use of the word commercial is often in reference to using house money not loans sold off.