Mixed-use loan packages and lender matching
Mixed-use deals fall between lender boxes. A residential lender may cap the commercial share, and a commercial lender may not want the apartments. The package has to break the property down by component so each lender can see its piece.
What lenders scrutinize on mixed-use.
Income by component
How much of the income comes from residential versus retail or office. Many lenders set limits on the commercial share.
Ground-floor retail
Tenant quality and lease terms for the commercial space, often the riskiest part.
Separate rent rolls
Residential and commercial tenancy shown clearly, not blended.
Construction and lease-up
For new projects, the budget, timeline and absorption assumptions for each component.
What goes in the package
- Residential rent roll
- Commercial rent roll with lease expirations
- T-12 operating statement, split by component where possible
- Pro forma
- Appraisal
- Construction budget and schedule for development deals
- Sponsor bio and track record
- Property photos and site plan
Metrics lenders size on
| DSCR | Often 1.25x–1.40xVaries by lender, loan program and market. |
| LTV | Often 60%–75%Varies by lender, loan program and market. |
| LTC (construction) | Often 55%–70%Varies by lender, loan program and market. |
Illustrative ranges, not a quote or a commitment from any lender.
Questions
Why is mixed-use harder to finance?
Each component has a different risk profile, and many lenders limit how much commercial income they will accept on a residential loan, or the reverse.
Does Dori support mixed-use deals?
Yes. Mixed-use is a supported property type.
How should a mixed-use package present income?
Break it out by component, with separate rent rolls, so each lender can check its own box.
One closed deal covers the year.
Start on the introductory rate and see a package come out of a real deal this week.