LADERA RANCH, Calif., May 02, 2019 (GLOBE NEWSWIRE) — Money360, a technology-enabled direct lender specializing in commercial real estate (CRE) loans, announced today it surpassed another quarter.
Interest Rate Reduction refinance loan (irrrl): The IRRRL is a "VA to VA" loan, meaning it can only be done if you have an existing VA guaranteed loan on the property. The IRRRL is generally performed to lower the interest and reduce the monthly payment on the existing VA guaranteed loan.
A veteran currently has a VA loan. The property is zoned commercial and was when the veteran obtained the first VA loan 7 years ago. Can the veteran still qualify for a streamline regardless of the commercial zoning? It also has an antique store on the first floor, which the veteran runs.
Best Answer: Sorry but the VA home loan insurance program will not insure a non-residential property. VA loans are only for properties zoned residential and you or your spouse must occupy the property. It is called a VA "home" loan and a property marked for non-residential such as mixed-use or commercial does not qualify.
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VA loans are only for properties zoned residential and you or your spouse must occupy the property. It is called a VA "home" loan and a property marked for non-residential such as mixed-use or commercial does not qualify. Commercial real estate (CRE) is income-producing property used solely for business (rather than residential) purposes.
While a VA Home Loan cannot be used to purchase property solely for investment purposes, such as a rental home, the Department of Veterans Affairs does allow a homebuyer to use the VA Loan on a residence that has one to four units – as long as the homebuyer certifies that they intend to occupy the home.
VA Commercial Loans for Real Estate & Business, SBA Loans for. – VA commercial loans: The 504 is a 2 loan structure and it’s value lies in the fact that the 2nd mortgage is fixed for 25 years, although well qualfied borrowers might also be able to get a 25 year fixed rate first mortgage as well.