Mixed-Use Loans for Long Island Properties
With key benefits like flexible terms and competitive rates, mixed-use loans are ideal for investors and business owners financing mixed-use properties in Long Island and the surrounding area. A versatile loan solution, Island Federal Credit Union specializes in financing mixed-use properties, or those zoned as both residential and commercial areas.
What are Mixed-Use Loans?
Mixed-use loans are designed to help investors and business owners build or purchase mixed-use properties, which are defined as properties that are zoned for multiple uses, such as residential, commercial and industrial.
Some common examples of mixed-use properties include an apartment building with ground-floor commercial space, a storefront with second or third-story apartments, or single-unit homes with a daycare or office within the structure. One of the major appealing factors of a mixed-use property is the diversity of income streams that investors or business owners have to gain. Mixed-use loans are also often acquired to invest in properties in growing urban areas, allowing investors and business owners to capitalize on real estate trends.
Features and Benefits of Mixed-Use Loans from Long Island Federal
There are many benefits to seeking a mixed-use loan with a qualified lender like Island Federal. These include:
- Flexible terms: Island Federal offers a variety of loan terms and can pair you with the right loan designed to meet your unique investment goals.
- Competitive rates: One of the big benefits of mixed-use loans is that they come with affordable interest rates for qualified borrowers.
- Local expertise: One of our key advantages is our local expertise and personalized service. We know the Long Island real estate market and will work with you to ensure that your loan needs are met.
- Diverse loan amounts: Whether you’re looking for a large or small mixed-use loan, there are options available.
- No prepayment penalties: Looking to pay off the loan before term and save on interest? With a mixed-use loan, you won’t be penalized for paying it off early.
How to Apply for a Mixed-Use Loan with Island Federal
It’s easy to apply for a mixed-use loan. It starts with contacting Island Federal for a free consultation to discuss your needs and understand what financing options you have to choose from.
If a mixed-use loan is determined to be the best loan fit for you, then we’ll work with you on getting the necessary documentation for prequalification, perform a credit check, and work with you to carry out any necessary appraisal or inspection.
When you work with Island Federal, not only do we ensure you get the loan that is just right for your needs, we also guarantee a stress-free experience and smooth approval and closing process. Contact our Commercial Real Estate team today for more information on mixed-use loans.
Why Choose Island Federal for Your Mixed-Use Loan?
Island Federal offers more than just expert service and smooth approval and closing processes for Long Island real estate investors and business owners. We’re also very community-focused and have decades of experience serving more than just Long Island residents and businesses, but various causes that matter to you as well.
When you combine our community focus with dedicated support, multiple branch locations throughout Long Island and our intuitive and easy-to-use online portal, it’s a level of service that’s hard to match. What’s more, another key competitive advantage of working with Island Federal is that there are no prepayment penalties on mixed-use loans, a benefit that only adds to the overall flexibility of a mixed-use loan.
Secure Your Mixed-Use Loan Today
Our application process is simple and streamlined and our experts will work with you every step of the way to ensure that your needs are met and the approval and closing process is as convenient as possible.
Interested in taking the next step? Don’t wait – start your investment journey today by contacting Island Federal to speak with a loan specialist and schedule a consultation at one of our Long Island branches. We’ll guide you through the application process and ensure that your needs are met. Contact Island Federal today to get started.