Any lenders that have loan options for Mixed use 50/50 cash out/ line of credit

Any lenders that have loan options for Mixed use 50/50 cash out/ line of credit

Summary of Loan Options for Mixed-Use Properties (50/50 Residential/Commercial) for Cash-Out Refinancing or Line of Credit

Yes, there are loan options for mixed-use properties with a 50/50 split for cash-out refinancing, but no lenders explicitly offer a line of credit for such properties.

Lenders Supporting Mixed-Use Properties for Cash-Out Refinancing

LenderProgramsKey RequirementsLine of Credit
A&D MortgageForeign National Full Doc, Foreign National DSCR, DSCR (No DTI), Foreign National- Max CLTV: 70%
- Min FICO: 680
- Min Loan: $400,000
- DSCR ≥ 1.1		No
Arc HomeAccess DSCR, Edge DSCR- Cash-out proceeds must meet business-purpose requirements.No
NQM FundingInvestor DSCR Program, Foreign National Program, Investor Mixed Use 2-8 Units and Residential 5-10 Units, DSCR Supreme- Commercial space ≤ 49% of total building area.
- Cash-out refinancing allowed.		No
Loan StreamJumbo One, Jumbo One Select- Mixed-use eligibility depends on program-specific guidelines.No

Key Takeaways:

  1. Cash-Out Refinancing: Several lenders, including A&D Mortgage, Arc Home, NQM Funding, and Loan Stream, offer cash-out refinancing for mixed-use properties. However, eligibility often depends on factors like CLTV, FICO score, and the proportion of commercial space (typically ≤ 49%).
  2. Line of Credit: None of the lenders explicitly offer a line of credit for mixed-use properties.
  3. Property Requirements: Mixed-use properties must meet specific criteria, such as a maximum commercial space percentage and minimum DSCR or FICO requirements.

If you'd like more details about a specific program or lender, let me know!

Revaluate my loan scenario with the updated available lenders

Updated Loan Scenario Evaluation for Mixed-Use Properties (50/50 Residential/Commercial) with Cash-Out Refinancing

Yes, there are loan options for mixed-use properties eligible for cash-out refinancing, but terms and conditions vary by lender.

Lender-Specific Details

LenderProgramMax LTV/CLTVFICO RequirementKey Conditions
Orion LendingCOIN X Business Purpose Investor Cash Flow
Titan Flex		65%-70%700+ (COIN X)
660+ (Titan Flex)		- Max 49% commercial space
- Primarily residential
- Borrower experience required
LendSure MortgageNoneN/AN/AMixed-use properties are not eligible for cash-out refinancing.
Oaktree FundingProfessional Investor65%660+- 2-8 units
- Non-owner occupied business purposes only

Key Takeaways:

  1. Orion Lending offers two programs for mixed-use properties:
    • COIN X Business Purpose Investor Cash Flow: Requires a minimum FICO of 700 and limits commercial space to 49%.
    • Titan Flex: Allows higher flexibility but applies a 10% LTV reduction unless LTV is ≤ 65%.
  2. Oaktree Funding provides the Professional Investor program, which supports mixed-use properties with 2-8 units for cash-out refinancing.
  3. LendSure Mortgage does not support mixed-use properties for cash-out refinancing.

If you'd like more details about a specific program or assistance in choosing the best option, let me know!

Revaluate my loan scenario with the updated available lenders

Updated Loan Scenario Evaluation for Mixed-Use Properties (50/50 Residential/Commercial) with Cash-Out Refinancing

Yes, there are loan options for mixed-use properties eligible for cash-out refinancing. Below are the details from the available lenders.

Lender-Specific Details

LenderProgramMax LTV/CLTVFICO RequirementKey Conditions
ACC MortgageDSCR Non-Residential Program65%700- Commercial space ≤ 49% of total building area.
- Investment properties only.
Brokers First FundingDSCR Program65% (DSCR ≥ 1.00)
60% (DSCR < 1.00)		680- Commercial space ≤ 49% of total building area.
- Retail or office use only.
Community Wholesale LendingCommunity DSCR Program80%Not specified- Commercial space ≤ 50% of total property.
- Investment or non-owner-occupied only.
Jet Advantage MortgageNot availableN/AN/AMixed-use properties are not explicitly eligible for cash-out refinancing.
Jet MortgagePRIME + DSCR
PRIME		85% (PRIME + DSCR)
80% (PRIME)		660+ (PRIME + DSCR)
620+ (PRIME)		- Unlimited cash-out allowed if LTV ≤ 60%.
- LTV reduced in declining markets.

Key Takeaways:

  1. ACC Mortgage: Offers the DSCR Non-Residential Program for mixed-use properties with a maximum LTV of 65% and a minimum FICO of 700.
  2. Brokers First Funding: Provides the DSCR Program with a maximum LTV of 65% (DSCR ≥ 1.00) or 60% (DSCR < 1.00) and a minimum FICO of 680.
  3. Community Wholesale Lending: Allows up to 80% LTV for mixed-use properties under the Community DSCR Program, but only for investment or non-owner-occupied properties.
  4. Jet Advantage Mortgage: Does not explicitly support mixed-use properties for cash-out refinancing.
  5. Jet Mortgage: Offers two programs (PRIME + DSCR and PRIME) with LTVs up to 85% and 80%, respectively, and allows unlimited cash-out if LTV is ≤ 60%.

If you'd like more details about a specific program or assistance in choosing the best option, let me know!