Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

“Doing an FHA 203K Loan to Purchase a Mixed-Use Property”
“Doing an FHA 203K Loan to Purchase a Mixed-Use Property”
 
 
 
 
Hi Joe,
I am interested in purchasing a property and the listing agent recommended that I communicate with you. The property is a mixed use property, the problem is none of the banks that I have spoken to are very interested in doing a loan for me for one reason or another, but one of them did say they would do a loan for me with 20% down, which I do not want to do.
Let me explain a few more things, I want to live on the second floor and use the lower level for my part-time business. I have a baking business which is becoming more and more successful and may eventually give up my teaching job.
The main reason I don’t want to put the 20% down is because I will need to equip the lower level with newer equipment. I am currently renting a storefront and the equipment that I have used is older and not efficient. Also the second floor apartment needs some updating.
Do you have any suggestions for me as you came highly recommended. Sharon XXXXXXXX         
 
 
Believe it or not, you can purchase a mixed-use property using FHA. ... more

__________________________________________________
Are you on The Rain? Grow Your Network!