What Does the Rest of the Year Hold for Home Prices?
Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home
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Real estate investors use mixed-use loans to finance buildings that are used for a combined purpose. Mixed-use buildings are zoned for multiple uses, including residential, commercial, industrial, or institutional. Mixed-use loans can be short-term or long-term, with terms ranging between six months and 30 years.
In order to qualify for a commercial mixed-use loan, there are certain criteria that you must meet. Because this is a commercial loan, there is no requirement for occupancy, but you will need to meet the following requirements:
Lenders will expect at least 25% down payment and the addition of property insurance
LTV Ratio of 75%
A debt-service coverage ratio (DSCR) of 1.25 or higher
Lenders will check your business credit score but also require a personal credit score minimum between 660 and 680
Minimum of two years in business
Depending on the scenario, lenders may require additional collateral.
If you are considering funding for Mixed-Use project, it is important to speak with one of our loan specialists to compare the benefits and drawbacks of the many commercial financing options available.
Our team is here to help with any questions or inquiries you may have.
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Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home
If you tried to buy a home during the pandemic, you know the limited supply
There’s no doubt about the fact that the housing market is slowing from the frenzy
When the pandemic hit in 2020, many experts thought the housing market would crash. They
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