What are FHA Commercial Loans?
FHA Commercial Loans are backed by the Federal Housing Administration and may be used to acquire, refinance, build and rehabilitate senior’s housing, healthcare facilities or multifamily rental housing where at least 51% of the floor area will be used for residential purposes.
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Benefits of FHA Commercial Loans
The borrower can get a lower interest rate and a longer repayment term than other types of loans
The borrower can finance up to 90% of the purchase price and 100% of the renovation costs of the property
Can use the income from the commercial space to help pay the mortgage
