Financing in 77006>Question Details

J. Mario Pre…, Real Estate Pro in San Francisco, CA

Somebody from Texas asked about "mix-use" real estate financing.

Asked by J. Mario Preza, CRB, CDPE, San Francisco, CA Fri Jul 26, 2013

I am not in Texas, but this kind soul reached out to me with a question about where she might be able to secure financing for a mix-use (commercial & residential) real estate. I don't have direct contacts in Texas, can anyone from there help?

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A good way to secure a mixed use property and still get residential mortgage rates is with an FHA 203K loan. Mixed use is allowable under this program. I am happy to help, see my profile for contact information.
0 votes Thank Flag Link Fri Jan 24, 2014
We're mortgage brokers. We work with unlimited lenders so we can find the best product and pricing for residential and commercial.

Anna Maria Durr, NMLS 266699
Codemark Financial
4500 Highway 6, Sugar Land, TX 77478
0 votes Thank Flag Link Fri Jul 26, 2013
I am located in Texas and can provide cimmercial & residential financing

John Broussard
Newbridge Investments
713-777-9996 Ext 103
0 votes Thank Flag Link Fri Jul 26, 2013
Hi John, I believe the prospect's # is 832-360-5333, I misplaced the notes, but, this young lady had a lot of things already sorted out, mostly, "no lenders want to lend on this type of property!". Thanks.
Flag Fri Jul 26, 2013
here is one answer I received directly from a nation-wide lender:

"J. Mario,

Thanks for reaching out to us. Chris is travelling on business right now and asked me to respond on his behalf.

We only offer the SBA 504 loan which can only be used to purchase owner user commercial property. That means your client would have to own a business and use a majority of the sq. footage for the business’ daily operations.

Since your client’s looking to purchase the property and make it residential, we unfortunately won’t be able to help you out on this one.

Thanks again for reaching out and let me know if you have any questions.

Best regards,

Justin Fricke
Marketing Associate
Mercantile Capital Corporation"
0 votes Thank Flag Link Fri Jul 26, 2013
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