Mixed Use Mortgage Financing

Spartan Commercial Mortgage Services offers Stated Income Mixed Use Mortgage Options throughout the state of Connecticut and most of the US. Our program is ideal for either a commercial property purchase or refinance. Borrowers are not required to have perfect credit with this program. Furthermore, closings can happen in as little as 25 days. Below is an overview of the program:

Mixed Use Property Variables:

Multi-Family
Retail and Office
Auto Repair
Day Care
Funeral Home
Beauty Shops
Motels/Hotels
Warehouse
Mobile Home Parks
Campgrounds
Churches
Self-Storage
Dry Cleaner (Drop off only)
Recreational properties

Ineligible Properties:

· Raw land

· Gas stations (although, we will lend on auto repair/auto body shops)

LTV: Maximum LTV is 75% (80% with underwriting exception).

Credit Scores:

· 680 Min Score for our Elite Program

· 600 Min Score for our Traditional Program.

Closings: Three to four weeks (the timeline is based on how quickly we receive all the required information)

Rates: Fixed Rates starting at 6.5% based over 25 or 30 years. We also offer adjustable rate mortgages.

Points: While Spartan Commercial does their best to not charge any upfront points, in some cases 1 to 2 points are charged depending on the transaction.

Prepay: Declining 5%-4%-3%-2%-1% Prepay Penalty

States: Finally, we transact commercial mortgages in 42 states except for Alaska, Alabama, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.

In conclusion, we are here to help with your upcoming mixed use mortgage. We say “Yes” when your local bank says “No.” Since we specialize in this type of financing, we are able to help you get your commercial mortgage closed quickly. Even more, we will work with you every step of the way.

Call us today for a free consultation or to get pre-approved.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services

mike@spartancommercialmortgage.com

(860) 876-0572