        |
Mixed Use Property Loans
 |
We're still closing mixed use property loans. This sector is still viable. Owners considering mixed use property loans have excellent commercial real estate loan options as this is one of the favorite building types by lenders/banks. From the lenders perspective a combination of multi family and either retail or office space is preferred as apartments are considered the most stable of all commercial building types. Buildings without a multi family component are still liked, due to the tenant and income diversification.
Mixed Use Mortgage LenderBelow is a break down on the underwriting components of a typical loan from a refinance perspective. Mixed Use Property Loan - LTV
Loan to value restrictions on mixed use property loans are normally capped at 80% on a rate and term refinance and 80% loan to value on cash out refinances. Higher LTV’s are available, but depend largely on strong DSCR. Borrower should expect increased rates and fees for higher LTV’s . Slightly lower loan to value requirements should be expected for properties that do not have a multifamily component. Debt Service Coverage Ratio restrictions are typically set at a relatively aggressive 1:1.15 for this mixed use property loans. Meaning that for every $1.15 of net income (income after taxes, insurance, repairs etc) the property produces, the mortgage payment can not exceed $1.00. Said in another way, after all expenses and the mortgage has been paid, the owner will need to net $.15 to qualify for the refinance. Exceptions can made with this rule on mixed use refinances. For example, stated income loans can be an outstanding option for owners that have low debt coverage ratios due to either overstated expenses, current high levels of vacancy, or understated income, etc.
Tenant Evaluation Property Analysis Market value and market rent is important and will be evaluated and compared to the subject property. Age, appearance, location, accessibility, and local market conditions, as well as other factors are considered.
Credit Worthiness Get preapproved now, click the button below or call to discuss. 248 885-8797
 Commercial mortgage training, fee agreements, spreadsheets, etc. :: SBA 7a Loan, SBA Commercial Loans :: SBA Business Loan :: Commercial Bank Loan :: SBA 504 Loans :: USDA Business Industry Loans :: Hard Money Commercial Loans :: Commercial Loan Rates :: Commercial Loan Underwriting :: Commercial Loan Calculators :: Commercial Mortgage Lenders :: Commercial Loan Applications :: Commercial Loan Refinance :: Apartment Loan Financing :: Daycare Center Loans :: Hotel Loan :: Restaurant Loans :: Industrial Building Loans :: Retail Property Loan :: Health Care Property Loans :: Mixed Use Property Loans :: Automotive Property Loans :: Car Wash Loans :: Church Loans :: Physician Loans :: Special Purpose Property Loans :: STORE for Commercial Loan Broker :: Commercial Mortgage Broker Fee Agreement :: Commercial Mortgage Broker Training Book :: Commercial Loan Training Course :: Commercial Loan Business :: Commercial Mortgage Broker :: Commercial Mortgage Refinance :: Commercial Loan News :: Commercial Mortgage Links :: Careers ::
© 2009 All Rights Reserved |
