Owner-Occupied Business
An owner-occupied property is just that – a facility that houses the owner's business. (This does not include apartments, which are considered residential.) The loan is underwritten based on the ability of the business to pay the debt service. The adjustable rate mortgage is an ideal tool to acquire property or to refinance and expand an existing property.

An alternative to the adjustable rate loan is the 90% financing package for owner-occupied properties. This package is most popular because it provides higher loan amounts than any other choice at a more stable rate and for a somewhat shorter amortization period. The program consists of a senior and a junior loan. The senior loan can be fixed or variable, but the junior loan is always fixed. With seller financing, this product can yield 100% financing. This loan is attractive for many projects, but may not be feasible if there is a necessity for prompt closing.