Any property larger than four residential units is considered commercial and would be financed that way. If you are looking at properties with more than four units or with a combination of residential and commercial units, there are great programs out there which have high LTV's and low rates for these types of properties. These properties are still very popular with lenders, even in the difficult times we are in.
Allied Atlantic Commercial Group
548 N. New Street
Bethlehem, PA 18018
From a lending and an appraisal standpoint, anything over 4 units is considered to be commercial. It is possible that 4 or less could be considered commercial if located in a commercial zone. Even a single family home could have a commercial consequence in that type of setting.
Also, less than 5 units could be commercial when one of the units is a store front, business, etc. Finally, A large single family with many rooms used as a rooming house would also be considered as a commercial.
I hope that this helps you. If you have any other questions, please let me know as I have worked as an appraiser and loan originator as well as a realtor.
Carol Murray Cei
For 2 - 4 units, the financing would be for a multi-family. The exception would be of course if the property is already zoned commercially or mixed use.
What type of property are you looking for ? For Philadelphia investment properties, you can also search http://www.phillyinvestorhub.com .
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