Can I get a residential mortgage rate on commercial property used only for primary residence?

If it is zoned commercial, zoning may not allow you to live there. Regardless, residential mortgage loans are only available on properties that are zoned 1-4 residential units, so the answer is no. You would be looking at a commercial property loan. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

If the property is zoned commercial then you will not be able to get a residential mortgage on the property. You would have to talk to a local bank with a commercial division to see if they can do it for you but expect that if they can do it they will probably want 20-30% down payment. If you have any other properties you need help with financing on feel free to contact me: Mandy Fritsche - Prospect MortgageMortgage Loan OfficerNMLS# 557211262-327-5700 Cell877-868-9198 Faxmandy.fritsche@prospectmtg.comwww.MyProspectMortgage.com/mfritsche

Yes as Mandy said, if the property is zoned commercial it will not qualify for residential financing. I have a referral source that does commercial lending right here in Sun Prairie, which is where I am also located...She does commercial owner occupied financing all day long and have very competetive rates - in fact they are the lowest I have seen for this type of product. Since they are a LOCAL bank, they have a specific product for this, specifically Dane County. If you would like her info please message me and I will provide it to you - or contact me directly at 608-318-2272. Please know that if you do call me, you will not be solicited for mortgage financing from myself. I'm happy to refer you directly to the person that can assist you with this type of financing. Jenn McCormick - Guaranteed Rate - Sun Prairie, WI.

There are diffrent classifications of commercial zoning, Find out how yours is listed. You can also check with the building dept and see what it would take to change the property classification. In many states this is easy to do. If it is truely commercial and changing it to a form of residential is not an option then a commercial loan is the only way to go. www. HOMEMORTGAGEXPERT.com

No, you won't be able to if it is zoned commercial, your planned usage has no bearing.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

Mixed use properties must be located in a residential neighborhood, be primarily residential in nature, and must be typical for the properties in the market; represent a legal, permissible use of the property under the local zoning requirements; 1 unit Primary Residence; if used commercially, the borrower is the owner and operator of the business; the dwelling wasn't modified in a manner that has an adverse impact on marketability; and the commercial use does not have an adverse affect on the safety of the property site. If you want to send me more information/description on the property to yjenkins@johnsonbank.com I can let you know if your property qualifies. Yvette Jenkins, Johnson Bank-family owned. NMLS 455918

Yvette gives you the most hope. Often there is an allowable residential use for that zoning. The surrounding area use is also a factor.

NoYou can get a commercial mortgage which currently has very comparable rates. It is a slightly different process but really not any more involved than a residential loan.Enjoy your weekend and best of luck to you!

I see a lot of 'no' answers here but I may be able to get you a fixed rate under 4%. My co. has a commercial division that I would refer you to and they will be able to determine what can be offered. There are no up-front fees to do this and no obligation on your part until you decide to move forward. You can contact me at csparks@gencormortgage.com if you want more information. Thanks! Charlie Sparks, NMLS# 195031

No, Please feel free to call me at the office: 757-645-0715. Happy Easter, George

Check with one of your local home town banks. In many cases they have products that are out of the box to fit unique circumstances. Once you research your options with them, then you may find a option to help you reach your goal.