Posted by JJ on October 27, 2003 at 21:10:23:
I am in Southern CA too. Mixed use properties are classified under commercial loans. Generally for these type loans it will require 20 to 25% down, plus you will need to have reserves.
The best case scenerio is if the loan amount is at least $150,000 and above, there is a loan program for CLTV @ 90%. The 1st mortgage will be for 75 to 80%, seller help carry 2nd of 10% to 15%, borrower to come in with 10%. This 10% downpayment does not need to be sourced or seasoned or verified. That would be the best out there.