FHA 203(k) on a mixed use 2 unit

Does anyone know of a lender that will do this program for a mixed use property?

the following is straight from the HUD website regarding mixed use properties:

A 203(k) mortgage may be originated on a "mixed use" residential property provided: (1) The property has no greater than 25 percent (for a one story building); 33 percent (for a three story building); and 49 percent (for a two story building) of its floor area used for commercial (storefront) purposes; (2) the commercial use will not affect the health and safety of the occupants of the residential property; and (3) the rehabilitation funds will only be used for the residential functions of the dwelling and areas used to access the residential part of the property.

any help finding a lender who would fund a deal like this would be much obliged..

thanks, Paul Karas

Try Freedom Mortgage.

Freedom will definitely do it.  Last year I took Freedom's 203k seminar --they make you take it before you can submit a 203k to them-- and they made a point of telling us that they will do mixed use on the 203K program.

Just called them and they stopped doing any sort of loans on mixed use proeprties 3 months ago.

im new to FHA, but are there any FHA lenders that would fund the purchase of a mixed use? the streamline 203k might work because the improvements would be minimal but so far ive had trouble finding a lender to do it

Paul Karas