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How to get a commercial loan for a live/work condo that is on title as "condo office"?

I'm interested in this one condo property which is in a 4-unit mixed use bldg (2 residential, 2 commerical). Although the condo can be used as a live/work space, it's on title as "condo office", so a conventional loan will not work. Can someone provide insight on why a conventional loan will not work for this situation, considering that this condo is in a mixed use bldg? Thanks.

  • May 20 2013 - San Francisco
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Answers (4)

Doesn't FHA 203K allow mixed use? Does the residential part need any improvements? Will you occupy one of the residential units?
  • May 20 2013
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Thanks, wayne.

Ivan, I'll give you a call shortly.
  • May 20 2013
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Contact me through my profile....Will get you the information you need.
  • May 20 2013
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I think you answered your own question...... "it is in a mixed use bldg.... That would mean not zoned residential which is requirement for a typical conventional or gov't loan program. Your best option would be a local bank but expect 20-30% down payment and commercial loan rates.
  • May 20 2013
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