A property is designated as Mixed Use Mortgages when there is more than one purpose for the building, such as a business owner living in one part and running a business in the other portion. There are a few programs that will lend using a mixed use mortgage, but they do have qualifications that must be met.
The property must meet zoning requirements for residential and/or commercial use. This can be in a residential area or business district when the building has an apartment attached to the business section, such as living quarters over a small shop. To be sure you will qualify for mortgages in New York for the property you are considering for purchase it may be wise to consult with our loan professionals, to be sure you have all the information and a variety of lenders to choose from when making your purchase.
We at Centex Capital Corp are well versed in all aspects of mortgage originating, including mixed use mortgage options available to new buyers. We can walk you through the selection of the property to purchase as well as all the funding options you may have available to you.
Our staff will help you take the guesswork out of buying your mixed use property. Your financial records and those of the proposed business to be operated on the property will be needed as well as proof that the income will cover the payments as well as other basic living expenses.
All other information can be gathered with our guidance and be used to find the best possible mixed use mortgage plan for you and your business.
Contact us to see if you qualify for a Mixed Use Mortgage.Email us or call us at (800)842-2910.
*This product is not regulated by the New York State Department of Financial Services