Did you know that Conventional loans will accept mixed use properties? …such as beauty shops, doctor’s office, small grocery, etc. as long as the following guidelines are met.
– Property must be a 1 unit property that the borrower occupies as his or her principal residence.
– The mix use of the property must represent a legally permissible use of the property under local zoning requirements.
– Borrower must be both owner and the operator of the business.
– Property must be primarily residential in nature.
If you have a property like this in mind for yourself please let me know. I just might be able to help you out!
That’s it for today!
Have a good day today!
…and thanks for reading.