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Old 02-08-2011, 09:43 AM
 
2 posts, read 2,125 times
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Question Can I get residential financing for a mixed-use property in Brooklyn, NY?

Property is zoned R6 with a commercial overlay and consists of a storefront with an apartment above. I want to occupy the whole building as a resident and use the storefront for an art studio.

Is it possible for me to get a residential mortgage given this situation?

I have excellent credit and can put down 200k for the 600k property, but am looking to avoid the much higher interest fees for the commercial loan, and I also want a 30-year fixed rate.
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Old 02-08-2011, 09:17 PM
 
Location: New Jersey
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Depends on what percent of the total building is commercial.
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