Commercial Co-ops
A Commercial Co-op is a loan that is given to those that operate a business out of a commercial co-op unit. Basically any type of business can operate from a commercial co-op unit as long as it meets the by-law requirements. Usually a commercial co-op unit is located in a residential building which has allocated commercial space for commercial use, such as doctors, lawyers, etc. Sometimes these buildings are categorized as mixed-use buildings consisting of residential and commercial co-op units.
65% LTV for purchases
60% LTV cash-out
No minimum sq ft required
Condos OK
Warrantable or non-warrantable OK
700 credit score
No income check available
Appraisal fee $2500
25 year loan
Fixed or variable available
