Commercial real estate that offers a shop, office or other commercial use in one or more units and an apartment or living space in other units is considered a mixed-use property. Because of this, obtaining loans and financing is a little different than going strictly after a small business loan or home loan. Mixed-use commercial mortgage loans offer consumers a variety of flexible financing options that address all types of scenarios and needs.
One of the benefits of mixed-use commercial property lending is low and, often, no points. Griffin Capital offers different types of commercial mortgage loans for these types of property such as low document loans, loan document, as well as stated income loans. In most cases, large balance of loans, ranging from $ 1,000,000 - $ 7500000, we will set the terms, as well as commercial mortgage terms of 25 and 30 years. Various types of security and cost are available to ask which set different terms.
Small balance mixed-use commercial mortgage loan are generally considered to be the size from $ 250,000 - $ 1,000,000. As with more balanced mixed-use commercial mortgage loans, the rate and cost guarantees are available as are commercial mortgages of up to 25 years.
Major mixed-use commercial balance in general, the loans are offered for properties that are considered medium to large, and companies must meet several requirements and qualifications that are determined by Griffin Capital.
Mixed use which cover the loans, retail, offices, residential spaces and must contain at least one business unit and a least one residential unit in order to qualify. Mixed-use loans can be used for the purchase and refinancing of commercial property. In most cases, adjustable, 5 and 10 years fixed-rate terms are available with 25 to 30 years amortization…
A mixed-use property refinancing loan allows borrowers to use their money to participate in the improvement of ownership, expansion, investment, in addition to the improvement of business and improved properties. Lower payments over the loan terms longer allow consumers and borrowers to gradually build equity in their own pace.
Commercial real estate mortgage programs such as mixed-use commercial loans are offered in 50 states and the District of Columbia by Griffin Capital. Let him know the sales of any special needs you may have and your budget so they can design a program to suit their particular needs.
