Owner Occupied Financing
Owner Occupied Loan Requirements
Owner Occupied real estate transactions involve a small or mid-sized business that will occupy the majority (≥ 51%) of the commercial property for their business use.
Owner Occupied - Multi - Use - Owner occupies > 51% for their business use. A multi-use property is a commercial building that may easily be used by a wide variety of tenants.
Owner Occupied - Special Use - Owner occupies ≥ 51% for their business use. Special-use is commonly associated with commercial properties that are either designed for a particular type of tenant, or are modified for use by a particular type of tenant. They are not suitable for multi-use (use by a wide variety of tenants, such as an office, retail or industrial building).
• Assisted Living Facilities
• Nursing Home
• Senior Housing
• Self Storage
• Car Wash
• Entertainment Facility
Owner Occupied - Hospitality - A Hospitality property is a hotel or motel property that receives guests and visitors on primarily a daily/overnight basis. Limited-Service Hospitality properties with nationally recognized franchises (“Flagged”) are preferred.
• Bed and Breakfast
• Full Service Flagged Hospitality
• Limited - Service Flagged Hospitality - Must have interior corridor