Investment Property Loan…The Difference Between Residential and Commercial

What is the difference between a residential and commercial investment property? You will need to know this because this will determine who you will approach to do your investment property mortgage. A commercial lender provides financing for multifamily of 5 units or more, and other properties like office buildings, mixed use buildings etc. and is typically zoned commercial. While a residential lender specializing in investment property loans finances a property that has 5 units or less. Because of the differences in the purposes of these two loans, you will also notice their structures also differs. Basic areas of difference include these:
• Loan size–Commercial loans tend to be larger since commercial properties are typically more expensive than personal residences.
• Credit requirements–Typically, a commercial investment property must show the ability to cash flow, have a good occupancy rate and good credit is used to determine eligibility. A residential loan requires good PERSONAL credit and income.
• Terms–Commercial loans typically have a 5 to 10 year terms and amortized over a 20 year period.
Wishing You the Best,
Karen Schimpf
Toll: 866-400-8630
Phone: 512-650-8630
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Here’s A Little Bit About Me. 20+ years in the finance industry, I rose to the level of Assistant V.P. with Chase Manhattan. While working for Chase, I decided that I wanted to have residual income without having to quit my job. I bought my first apartment building in 1996, three days before my wedding. In 2001, I decided I would leave the corporate world and work for myself in a net branch environment. My passions are helping people get commercial mortgage loans. I also am passionate about investing, working out and being with my family and friends.

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