How do I purchase commercial real estate with a loan for private use?
I am looking to purchase commercial real estate for private use with a loan. I want the property in my name and not a business name. Do I need to get a commercial property loan or can I get a standard mortgage through my bank? I'm curious to know what my options are.
Public Comments
- You get a commercial loan in your name. You can't use a residential mortgage for commercial property.
- You need a commercial real estate loan and it will be in your name, very few lenders will lend to a company, those are your options.
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