Traditional commercial mortgages can require as much as a 15%-25% downpayment, even for mixed use properties.

With the Fannie Mae Mixed Use Mortgage, you don’t need a commercial loan to buy or refinance your property.

What is a Mixed-use Property?

Mixed-use properties include both a residential portion and a commercial portion within the same structure.

There are many types of mixed-use buildings, the most common are:

  • Large apartment building with ground floor retail and office space.
  • Storefront with an apartment-style residential area on the second and third floor.
  • Single-family property with a dedicated office or professional space contained within.

Some owners of mixed-use properties maintain their primary residence and principal business in the same location.

Does Fannie Mae Offer Mixed Use Mortgages?

Fannie Mae offers residential mortgage loans for mixed use properties that meet certain guidelines.

What Are the Mixed Use Guidelines?

Fannie Mae offers residential mortgage financing for properties being used for both residential and commercial business purposes simultaneously.

The property must be a one-unit building that is residential in nature.

The property cannot be modified in a way that would have a negative effect on the ability to market as a residential property.

The property has a space set aside and modified for business use such as a:

  • Doctor’s or professional office
  • Beauty salon or barber shop
  • Daycare facility
  • Studio

Fannie Mae requires that the borrower occupies the property as their primary residence AND be the primary owner operator of the business located on the property.

How Do I Get More Information?

At MortgageDepot we specialize in the Fannie Mae Mixed Use Mortgage. Whether you’re looking to purchase or refinance a mixed use property, we can help.

We work with owner occupants to find you the best type of loan for the property and for your business and financial goals. Our experienced licensed loan officers have access to the programs, tools, and technologies that make the loan process quick and efficient. We use a streamlined in-house pre-qualification and underwriting process to ensure that you meet your purchase contract terms and your refinance project timelines.

For the most flexible financing options, customized solutions, individual attention, and personalized service contact the mixed use property financing specialists at MortgageDepot today.

*This product is not regulated by the New York State Department of Financial Services

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