can anyone recommend how to get financing for mix use property. 2 apartments and medical suit. thank you

Asked by Steven, Sheepshead Bay, Brooklyn, NY Sat Dec 21, 2013

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John Peitler, Agent, NY,
Tue Dec 31, 2013
Please contact me for assistance. My name is Peter and I can be reached at 201-220-3792. Thank you and good luck.
0 votes
Sanjeev Ahuja, Mortgage Broker Or Lender, Floral Park, NY
Sun Dec 22, 2013
Hi Steven: I have several lender that will lend on this type of property. Key pieces of information you will need to provide are:
1. Are you going to use medical suit or the apartment your self or rent them out?
2. Is the property currently rented, are leases available?
3. What the current gross rental income and expenses like insurance, property taxes, repairs, maintenance, utilities etc.
4. Your personal two year tax returns.
5. If self employed two year business tax returns.
6. Two months bank statements.
7. Address and picture of the property you want to buy and purchase price.

Once you have the above at a minimum meet with a mortgage professional that has the ability to get financing for this type of property. If you like to discuss with me please contact at 917=517-2552.

Thanks

Sanjeev Ahuja, NMLS #148731
Mortgage Broker
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Phone 917-517-2552
NYS Registered Mortgage Broker, Dept of Financial Services, Loans arranged through third parties (NMLS # 885573)
0 votes
Armen Meschi…, Agent, New York, NY
Sat Dec 21, 2013
Hi Steven

First and foremost, please make sure to check the zoning and the Certificate of occupancy before determining if this is a mixed use commercial, which your question suggests. Medical suits are very often special permit units within a residential multi family dwelling, so it may be quite possible to get a regular residential mortgag if the property is zoned as a 3 family residential (one of the units being the medical suite)

Choosing a lender that does both residential and commercial in house should be the best route. I am happy to put you in contact with guys I wiork with. You can call me at 917-848-6928

Warmly
Armen
http://www.luxdwellings.com
0 votes
Gail Gladsto…, Agent, 11743, NY
Sat Dec 21, 2013
Steven,

No problem. Here at Gladstone Group, we have a commercial division that can help you.

Call Doug Gill at 201-321-5398 doug.gill@msn.com
or Curt Gill at 201-638-0821 curtgill@msn.com

They will take good care of you.

gail@GladstoneGroupRealty.com
0 votes
Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Sat Dec 21, 2013
Steven there are several options available. You can even do a 203(k) rehab mortgage on a mixed use. Your first step would be to meet with a Loan Officer and hand in your 2011 & 2012 tax return, recent paystubs, bank statements and ID. This will allow the Loan Officer to review and evaluate your entire financial situation and see exactly what you qualify for and also address all your questions. You can also get estimated payments, rates, closing costs, etc.

I'm always available to meet face-to-face at our Brooklyn, Queens, Manhattan or Long Island offices. Feel free to call me or email anytime. Good luck.

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
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