smith432
Joined: 24 May 2012
Posts: 347
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 Posted: Tue Jul 18, 2017 5:15 am Post subject: Can Homes Be Commercial Real Estate? |
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When an individual buys a single family home for investment purposes, a lender will treat that differently than if a home is being purchased to serve as a personal full-time residence for the buyer. Buying a single-family residence as an investment property does not involve working with a commercial lender, and the mortgage is not treated as a commercial loan.A common standard is for there to be five units or more to be classified as a commercial mortgage. In some limited cases, a buyer purchasing five or more single-family homes (for rental purposes) that are located contiguously could qualify for commercial real estate financing if certain conditions are met.
Thanks
http://www.kevinloberg.ca
Kevin Loberg
Broker
Royal LePage Terrequity Realty, Brokerage
Independently owned and operated
293 Eglinton Ave East
Toronto, M4P 1L3
Office: (416) 485-2299
Mobile: (416) 495-3859 |
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