Mixed Use Commercial Loans
Although COVID has impacted the viability of certain business ideas, we are still working on plenty of mixed use project loans this year. Commercial Mortgage Depot (CMD) is here with an update on Mixed Use loans in New York, New Jersey, Connecticut, and Pennsylvania. Speak to our Clifton, NJ team about getting mixed-use loans to finance office spaces, retail centers, residential units, or other service spaces. They offer so many opportunities to invest and earn income, read on below for more information and contact our team to get started.
The Details of Funding Mixed Use Properties
At Commercial Mortgage Depot, we can help you understand all the details of funding a mixed use project. Loans can provide capital for refurbishing, acquiring, and refinancing spaces, or for new construction. There are many types of loans with various terms to consider. However, if your project has greater than five units residential and no more than 40% of income from commercial purposes, then mixed-use financing is likely the best choice.
Terms of CMD Mixed-Use Commercial Loans
Once you assemble the right materials and financial picture, Commercial Mortgage Depot (CMD) will work hard to get you great rates and streamlined approval for mixed use financing. Loan types to consider are stated income, bridge, blanket, credit line, rehab, Nationwide Small Balance, and others. It depends on your financial backing and what you are trying to accomplish. Financing can also come with flexible terms for unpredictable circumstances.
What You Can Accomplish with Mixed-Use Financing
Many people used mixed use loans to build out businesses of offices in a space on the bottom floors, then layer apartments on top and include roof top bar or restaurant options. These open, flexible spaces proved to work out well during new social distancing measures during the pandemic. You can work with local zoning to remove barriers, as many people now desire both great living and working space access. Many times, you will also have to work through zoning and planning issues, and we can help provide you with great contacts. We even have access to local market data to tell you which uses have done well during the recent economic challenges.
We are here to help you get creative and create a project that will sell to tenants and maximize usage. Integrated design and flexible build outs are essential in today’s changing world. As you develop your concept, contact our team to help with research and planning using recent trends. We streamline review and approval of loans and competitive pricing. Commercial Mortgage Depot (CMD) is a direct lender for mixed-use commercial loans in New York, New Jersey, Connecticut and Pennsylvania. Contact us today for fast pre-qualification and review.
