What is a Mixed-Use 2-4 Unit Renovation Loan?
Many Communities offers many investment opportunities, including owner-occupied mixed-use properties, where an owner lives in the residential part of the building and the commercial portion is leased to a business.
However, many of them need a bit of work or updating! We can help you get the Mixed-Use Property Loan that lets you purchase your dream home and renovate it before you move in. There’s no need for commercial loans, and rehab loan funds can help update the residential portion of the property.
Already have a renovated property? Allow us to refinance your loan as interest rates decrease. Your payments and the total amount of interest paid can be greatly reduced.
How It Works
- Contact us to get started and to be pre-approved.
- Find your new home or refinance your current property.
- Our construction consultant will inspect the home to outline repairs for general contractors to bid on.
- When you’ve selected a contractor, we’ll make sure they’re up to the job.
- The property is appraised for its “After Renovated Value” (ARV).
- We will process and underwrite your loan application.
- The loan is closed, and your renovation work begins!
We can help with any portion of the loan process. Contact us to get started.