OUR SERVICES
Mixed-Use Property Loans & Financing
CommLending is proud to offer mixed-use lending and financing opportunities for commercial real estate properties throughout the United States. Your mixed-use loan can be used for your initial purchase, rehabilitation, or refinancing.
CommLending mixed-use property loans are available for both residential and commercial mixed-use properties with 5 or more residential units.
Mixed-use is generally defined as properties with at least 55% of the rental income coming from the residential component of the property.
Our focus is to provide easy access to capital using our No Tax Return and No Personal Guarantee program. This allows our borrowers to focus on property management and not on the lengthy paperwork needed to apply with a traditional lender.
CommLending mixed-use commercial lending provides flexibility and a fast funding in most situations. Mixed-use loans offered are: stated income, no document, and full documentation program options to fit the needs of your business.
We Make Funding Apartment Buildings & Multifamily Commercial Real Estate a Snap for Brokers
Offering non-traditional or alternative financing for apartment buildings and multifamily properties is a great strategy for commercial real estate brokers and mortgage brokers to expand their stategic offering and expand their client base.
To be considered a multifamily or apartment building and qualify for financing, the building must have five or more units (apartments).
CommLending is second to none when it comes to commercial real estate lending and multifamily (apartment building) loans. I highly recommend them!
How Mixed-Use Property Loans Work
With CommLending, the majority of our mixed-use property loans are considered “Alt-A” lending. This means that the loan program falls somewhere in between conventional lending offered by Fannie May and Freddie Mac, and hard-money loans.
If you own or you are looking to purchase a mixed-use property, we can help in almost all situations.
Mixed-use properties are considered properties that offer both commercial and residential space. For example, a two-unit dental office with residential living space in the back for the dentist and his family would be considered a mixed-use property. Depending on the property of location, the size of the mixed-use property can increase too. For example, we can help finance a mixed-use property that occupies a larger retail space (think larger chain or anchor store) with multiple residential units above (think mid-rise).
Multifamily & Apartment Building Loans FAQs
While your rate will be subject to qualification and underwriting, most borrowers that meet our multifamily and apartment building loan guidelines can expect a rate between 4.25 to 6.50%.
While we like to look at the whole deal from a high level, credit does play a role in our approval process for apartment building loans and multifamily financing. Credit scores should be 680 mid-score or higher.
Our multifamily financing and apartment building commercial loans are Non-recourse.
Most multifamily and apartment building loans, as well as other commercial real estate financing offered by CommLending, fall somewhere in between $1,000,000.00 and $30,000,000.00.