All Forum Posts by: Taylor Johnson

The property is unique in that it is two separate buildings that both appear residential. It is a zoned mixed use, however it appears both buildings were being used for residential purposes. My intention would be to live in one unit and rent the other out for residential purposes. My preference would be to obtain conventional financing (although this may not be possible) to get the best rate. Would a DSCR loan work in a property that has no proven rental income? My concern is; it is a more rural property and comps might be hard to come by. Thanks for the response!

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.