Residential Mortgage for Mixed Use Property
Financing mixed use properties is a challenge. Each property is unique and can be tenanted, owner occupied or a mix of both.
In some cases it's possible to finance mixed use properties with a residential mortgage.
In order to consider the property under residential mortgage guidelines, lenders will have restriction on the size of commercial component.
Generally, commercial component can not exceed 20% of total area size and 20% of total income the property generates.
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