Can we discuss a hypothetical for my education?
Scenario: a development of 6 apartments which you want to hold not sell. This would need a commercial loan to do this.
BUT at the end of construction and the apartments are on their own titles do you.....
a. convert to 6 individual residential loans
b. convert to a commercial investment loan as 100% holdings in a complex (or 6) is a risk concentration that is too high for resi loan
Scenario: a development of 6 apartments which you want to hold not sell. This would need a commercial loan to do this.
BUT at the end of construction and the apartments are on their own titles do you.....
a. convert to 6 individual residential loans
b. convert to a commercial investment loan as 100% holdings in a complex (or 6) is a risk concentration that is too high for resi loan