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Have mortgage products improved any?

One of my listings is a retail/auto repair entitiy with a 2 br 1 bth apartment upstairs in which a new owner may live comfortably. This does not qualify for a standard residential mortgage, and it does not seem to fit a buisness loan model. Does anyone have a suggestion for financing?
In Selling Property - Asked by Blanca H. - Jul 23, 2009
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Answer(s)

Jason B.
Owner/Investor
Center Valley, PA

NO 25% down is not good

Jul 23, 2009
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Davide P.
Broker/Agent
Pinole, CA

You are probably going to get a commercial mortgage where a 25% down payment or more will be neccessary. Of course, it will probably be more if the building is vacant and produces no income. Check with a local bank and a commercial lender as well.

Jul 23, 2009
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Chris S.
Broker/Agent
Coeur D'alene, ID

No improvement and I expect the options to get worse.
Expect AT LEAST 30% down with anything auto service related. Also expect to jump through a lot of hoops when it comes to all the environmental work that will be required by the bank.

Aug 3, 2009
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Gregory G.
Broker/Agent
San Francisco, CA

What are the terms of the lease and how strong is the tenant? NO conditions are poor.

Web Reference: http://www.gregorygarver.com
Aug 14, 2009
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