Mixed-Use Loans
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When a company, investor, or person overall does not have one purpose only for the property that is planning to acquire, the type of loan requested to finance it will be different. Instead of commercial or maybe residential, mixed-use loans are the ones needed. But what does it mean to have more than one purpose for a property? That is simple to explain.
Most buildings you see on the streets of Port St. Lucie are used as businesses but also residences. In other words, some units are offices and businesses, while others are probably used as apartments, hotels, or with other purposes in mind. As a result, you do not have a residential nor commercial property but rather a mixed-use one. Also, it is possible to recognize these properties based on their structure and how they were built. Some contractors and owners decide to have units and spaces for more than just a residential building or commercial one.
With this clear, why mixed-use loans instead of regular ones? Due to the type of property and the name alone? Yes and no. Depending on the property you are planning to purchase, the type of loan should be changed to have the terms and conditions adapted to it. If you decide to go for a mixed-use loan, you will have different terms and conditions, including higher or lower interest rates and so on.
How to access mixed-use loans
Here is the first problem: they are not common loans you can usually request in banks or similar lending institutions. Instead, private lenders or companies are the ones with them available and you need to choose the most suitable one out of the few options in the city.
At Commercial Real Estate Loan Pros of Port St. Lucie, we are able to provide several alternatives when it comes to these loans since we consider the number of units, the size of the property, and the specific purposes you will cover with it, which means that if it is residential and commercial or includes more, we will offer different terms. We are not trying to establish more depending on the size of the loan either but are just interested in financing the acquisition properly and according to the mixed-use property you choose.
That being said, some of our loans finance renovations, remodeling, and additions to the properties, and the best part is that regardless of the one you get, you are not limited to not renting the place or even reselling it later on as long as you pay the loan along with the resell. In our company, Commercial Real Estate Loan Pros of Port St. Lucie, we do not have a bunch of requirements either. Therefore, if you are interested in accessing them you won’t have a hard time in the process. Just make sure to ask all your questions and let our team know that you are looking for these loans in specific. They will be more than happy to answer all of them and provide more information.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.