Mixed Use Loans
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If you want to fund a mixed-use building or purchase a building for carrying out various residential, industrial, and professional operations, we can help. Commercial Real Estate Loan Pros of Key West can help you with mixed-use loans
Our company is the best-known in Monroe County. We will help you to find a reliable lender within the country. If you have a strong credit score and a positive financial record, it will be easier for you to get approval for mixed-use loans.
What do you mean by a mixed-use loan?
The mixed-use loan is the funding that can be used for constructing mixed-use buildings. A mixed-use building is one that can be both residential and commercial. These loans can be used for multiple uses like commercial, industrial, cultural, residential, and institutional purposes. The purpose for which the mixed-used loan is commonly used for the building is commercial and residential purposes. A common example of a mixed-used building is that these buildings are mostly built with shops on the ground floor and residential ones above.
Mixed-use property loans are available in the long term as well as short-term ranging from six months to 30 years. Mixed-use properties can be properties with five or more residential units. The Loan – To – Value ratio can be had at up to 85% LTV. These loans are provided by banks, private lenders, investors, and non-bank lenders or credit unions. The government can also fund the loans which are commercially based. However, it’s best to opt for private lenders.
Common uses of these type of loans:
- PUD financing
- Construct a mixed-use building
- Remodel the property
- Purchase a mixed-use property
What is a Mixed-use building?
Mixed-use developments are common nowadays. Broadly, mixed-use development can be referred to as any urban, village development or even a single building which is a combination used for residential, industrial, commercial, cultural, and institutional uses. These types of buildings make efficient use of land by maximizing land usage, further getting better returns.
Mixed-use buildings can be a horizontal mix, vertical mix, or a combination of both. This depends majorly on the size of the land and according to the owner’s wish. Horizontal mix requires larger pieces of land as compared to vertical mix. But these developments have the convenience of separate parking, entrances, and vehicular movement. On the other hand, a vertical mix building is built vertically and requires less land, but one has to efficiently put together sufficient parking and efficient circulation.
Some common types of mixed-use loans:
- Cash-out refinance
- Construction takes – out the loan
- SBA 7(a) non-bank loan
- USDA B & I loan in a rural area
- 99% to 8% for 60% LTV or lower
- Loan ranges from $15K to $50M
- 80% leverage for value-add properties
Why choose us?
Our company is known all over the country. We have the best financial advisors and will always understand your needs and requirements for loans. Accordingly, we find suitable lenders that fit the terms and conditions of the borrower. We act as a middleman between lenders and borrowers. We will help you collect suitable documents, tax statements, and prepare a funding plan for refinancing accordingly. So, contact Commercial Real Estate Loan Pros of Key West now and book our services to get the best services within the country.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.