Commercial Mortgage On Mixed Use Property
When you have a mixed use property where part of the use is for residential purposes and part is for commercial purposes, there are going to be different financing criteria to consider.
For one, many lenders will have specific requirements as to the amount of commercial space that can be utilized in a mixed mortgage application. In many cases, this amount is a smaller percentage of the total space being utilized, and these programs are provided primarily by residential mortgage providers.
The second component of a commercial mortgage application for mixed use property is the tenant agreements that are in place in terms of the amount paid and the time outstanding.
