Commercial real estate (CRE) is a property that is used primarily for commercial purposes or to provide a workspace.
Commercial real estate includes all types of retailers, including office space, hotels and resorts, strip malls, restaurants, Residential 5+ units, and healthcare facilities.
Are you looking to buy or refinance commercial real estate? Midgate Mortgage can help! Contact us at 310-791-0854 to get started.
Residential property is any building or unit that is zoned and intended for use as living space.
The owner occupies the bulk of the residential property, but this is not always the case. A classic example of residential property is a single-family home.
Ready to own your first home? At Midgate Mortgage we can help make your home ownership dreams come true. Call us today 310-791-0854.
Land or a building (including a portion of a building) held for the purpose of earning rental income or capital appreciation, or both; it is not owner-occupied; it is not used in the production or supply of goods and services, or for administration, and it is not held for sale in the ordinary course of business.
Choosing the right investment property can be challenging, call Midgate Mortgage today and talk with one of our experts.
A property that is owner-occupied means that the person who holds the title (or owns the property) also lives there as their primary residence. The term “owner-occupied” refers to real estate investors who live in a property and rent out individual spaces to tenants.
Owner-occupied properties offer a means to take advantage of attractive financing options when it comes to real estate investing. For example, most homeowners may find mortgage terms far more tempting than those available to real estate investors. However, by renting out spaces in the property that you don’t use, you’ll be able to create rental income.
Interested in learning how you can create rental income with an owner-occupied property? Call 310-791-0854 now and let us help you!
A second house is a residence that you intend to use in addition to your primary residence for a portion of the year. A second house is typically used as a holiday home, but it could also be a property that you visit frequently, such as a condo in a city where you do business.
To be eligible for a second-home loan, the property must be in a resort or vacation area—such as the mountains or near the ocean—or be a certain distance away from the borrower’s primary residence.
Second-home loans often have lower interest rates than investment-property loans, and they frequently come with a Second Home Rider.
To learn more about second homes, call a Midgate Mortgage team member today at 310-791-0854.
Single Family 1-4 Units
This type of property is primarily planned and utilized for residential occupancy by one to four families, including a residential unit in a condominium. Regardless of the total number of units in the condominium complex.
If this type of ownership sounds like the best choice for you, call 310-791-0854 and speak with a Midgate Mortgage expert today.