Did You know that Freddie Mac will do a small mixed property??? It’s true!!!

Not all mixed-use properties have to be financed using commercial loan programs. FHA is also in the same game lending on small mixed-use properties. Here are a few things to keep in mind when considering buying or refinancing a mixed-use property.

  • The property MUST be a primary residence and a one-unit ONLY.
  • It must be located in a residential neighborhood, be primarily residential use and confirm to the local zoning requirements.
  • The commercial section of the property must be owned by the Borrower as their business.
  • The property cannot be modified in a way that affects marketability as a residence.
  • The commercial use cannot affect safety or habitability of the property or site.

Best examples of acceptable use:

  • Doctor’s office
  • attorney’s office
  • realtor
  • professional services, etc.

If you are in the market to purchase or you own a mixed-use property, contact our office and speak to a mortgage loan originator who can give you more information about this type of financing.

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