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Mixed Use Condo Complexes with Commercial Space Are OK If…

Condo complexes can have commercial space and be eligible for financing as long as the commercial space comprises less than 25% of the square footage of the entire complex.

If commercial space exceeds 25% of the overall space, we have a couple of portfolio lenders that will finance the projects. The rates and terms are nowhere near as competitive as Fannie’s and Freddie’s, however.

Note also: If condo complexes have parking spaces in a parking structure that are not assigned to tenants, the parking spaces are considered “commercial space” as well.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646