A type of business financing is a loan for a commercial property. Commercial property is any property that is neither industrial nor residential. A commercial property is any property that is not empty land, a single-family home, a duplex, a triplex, or a four-plex. In cities, people talk a lot about commercial property. Sometimes, the government even gives incentives to help these areas grow.
If you want to buy a property with less than four units, it is called a residential property. A commercial property, on the other hand, is one with five or more units. In simple terms, a multi-family project is considered a commercial property loan, but not all commercial property loans are multi-family loans. Commercial property loans have variable interest rates that are different from those of home loans.
A property with a single apartment on top of a storefront is called a "mixed use property." A mixed-use property is a commercial property, and to get a commercial property loan for it, you would need to go to a commercial property lender. If you want to find a lender for a commercial loan, we at I Loan Resource can help you find the best one for your needs.
I Loan Resource only works with the best lenders in the whole country. We have already checked out these companies and made it a rule that they must tell you everything you need to know about your loan and not hide any costs that you will have to pay. Aside from commercial property loans, I Loan Resource can help you find the right lender if you want to refinance your home, get a new home loan, or just use your equity to pay off your debts.
Fill out the form for the type of loan you want, and a pre-approved lender will get in touch with you the same day. There are no fees and no need to join. You just need to fill out our online form, and we'll find a lender for you.
