Visit hotel website. In this second part of our blog series on condominiums and condotel financing, we will explore the advantages of condotel investments and provide insights into how mortgage brokers can assist clients in unlocking the full potential of this unique property type. The team at Gustan Cho Associates is available 7 days a week, on evenings, weekends, and holidays. Ocean front condos are known by lenders as a "Condotel. This FAQ document provides responses to common questions related to Fannie Mae’s project review methods and policies for determining project eligibility for mortgages secured by units in condo, co-op, and planned unit development (PUD) projects. Address: 1990 N Waccamaw Drive. Officials acknowledged their vote was tied to a $100 million “condotel” project proposed along 30th Ave. 00 or as much as $3,360. Subject property needs to be 100% residential (or livable) The units need. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. This process is known as a Non-QM or Portfolio Loan. § 47C-1-101. You can click on the button below or apply online; if you prefer to speak with one of our Mortgage Experts, we would be happy to speak with you at 888-259-2257. Toll Free: 1-888-667-1772. Top Rated. California home buyers with credit scores as low as 580 FICO can now qualify for California home loan with bad credit. Condotels at One Ocean Place: DONT STAY HERE - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Condotels at One Ocean Place: Nice view, pool and hot tub - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Owners used as 2nd home. Finance; Get Social. Available financing for vacation and 2nd homes up to 85% loan to value to $3,000,000. 25% down payment, 75% loan to value, is required for primary and second condotel unit buyers. com. Points. Up to 103 LPC Non-Owner Occupied. Or email us at gcho@gustancho. Borrowers can also email us at gcho@gustancho. Book Condotels at One Ocean Place, Garden City Beach on Tripadvisor: See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place, ranked #2 of 10 specialty lodging in Garden City Beach and rated 4 of 5 at Tripadvisor. A list of local lenders and contacts who can provide traditional financing for condos and condotels in South Carolina, based on the type of loan and the characteristics of the property. Private owners can purchase condotels. Skip the content. South Carolina gives tax breaks to certain people, but only as primary residents. Homeowners who own a personal residence, the new Condo-Hotel unit can be classified as a second home which requires 25% down payment. Encompassing six buildings with 380 units, this contemporary property includes amazing…. 741 sq ft. 00 and $350. Let’s assume that the cost to purchase a condo is $250,000, in order to break even the hotel would need to charge $250 per night for your condo and rent out at least 60% of the time. 15% for a 15-year fixed mortgage. Up to 75% LTV for Purchase Loans. Spartanburg, South Carolina 27 contributions 12 helpful votes. Description Amenities Available Rentals. , Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455Here are some popular mortgage options: FHA, VA, USDA, Conventional Loans with No Overlays | W2 Income Only Mortgages | Manufactured Homes | Manual Underwriting | Mortgages Down To 500 FICO | FHA 203k Loans | Down Payment Assistance | ITIN and DACA | No Ratio Loans | 1099 Only Mortgages | Non-QM Jumbo Loans | 90% LTV. 1% in 2019. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major. 2318867 MLS. 1 bathrooms-19 days ago Homefinder. Purchase loan-to-values (LTV) (down payments) are identical for a primar residence. The condo can even be 5 miles from the “check-in desk”. With so much to see and do in Myrtle Beach, you’re sure to have a memorable vacation. By Alison Gregor. S. THE OCEAN FOREST COMPANY. Text us at 407 955 4575. Condotels and Garden City Realty Real Estate, Vacation Rental Property Management, and Vacation Rentals Condotels and Garden City Realty welcome you to experience the. For those who need condotel financing, please contact us at Gustan Cho Associates at 262-878-1965 or text me on my cell for faster response at 800-900-8569. Documentation: Qualify with either a traditional full doc loan or a limited document bank statement-only loan. Dec. NMLS #5645 These programs are available to only qualified borrowSouth Carolina property manager licensing requirements include: Age: must be at least 18 to be a property manager, and 21 to be a property manager in charge. Address Line 2. SkyWheel Myrtle Beach. com or visit us at No lender overlays. $24,000. Stay in touch with us at 843-999-0575 or email directly to aaron@aaronmillerinsurance. Compared to the rest of the country, SC has comparatively low property taxes, and social security benefits are exempt from taxation, offering attractive deductions on retirement income for residents. We offer a range of financing solutions for condominiums, so you can find the mortgage you want – minus the hassles and stress you don’t. Type Full Name Below: *. Condotels at One Ocean Place: Unit 203 beautiful view, horrible parking - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Las Vegas-based The Siegel Group, a real estate investment and management firm, is the new owner of a 191-room hotel off of Orange Blossom Trail just north of Florida. The rates and monthly payments shown are based on a loan amount of $464,000 and a down payment of at least 25%. com to schedule your consultation. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ; Condotels at Surfmaster;. It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. When a project as a whole, functions more like a vacation rental resort, the building is ineligible for. But it boils down to whether or not you can rent the condo for 7 days or less, and it’s a daily rental. com. FHA loan limits in many parts of California is $679,650. 8999. A condotel is a. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. Subscribe now. Condotels are condominium projects, which are individually owned and operated as a hotel. Condo-hotels buyers are usually required to put a minimum of 20% down payment although a higher down payment could be required on a larger purchase price. Condotel and Non-Warrantable Condo Financing are 30 year adjustable rate mortgage portfolio loans. I found Condotel Financing at competitive rates Types of Mortgages Available Principle & Interest Mortgage Options 30 yr 3/3 ARM @ up to 75% LTV (Lock for 3 Yrs. Some lenders may go as low as $55,000. The Gustan Cho Team has NON-QM Loans for self-employed borrowers. Was approved for $80k to purchase a beach rental property to come and find out that the loan cannot be used to finance a condotel. Coral Beach Bldg. APPLY NOW. Was approved for $80k to purchase a beach rental property to come and find out that the loan cannot be used to finance a condotel. 604 N 27th Ave, Myrtle Beach, SC 29579. Visit Learn About Project Standards to see all Project. Featured. Available financing for vacation and 2nd homes up to 85% loan to value to $3,000,000. No Income Verification, No Tax Returns. At Fidelity Home Group, we are Condotel Financing Florida mortgage experts! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. Coral Beach. The list includes American Financial Network, CCNB, Movement Mortgage, Edge Home Finance, Ameris Bank, Conway National Bank, Guild Mortgage Company, Homebridge Mortgage, Neighborhood Loans, New Wave Lending and Union Home Mortgage. Sess. 9% over the past year, and are expected to rise another 7. Over 75% of the borrowers of Gustan Cho Associates (Gustan Cho Associates) are folks who could not qualify at other lenders due. Apply for a Condotel Loan in Miami Through Lending Bankers Mortgage. We also provide first-rate, friendly service for every member. 106 Condos For Sale in Charleston, SC. 10 or more units, up to 10% may be FHA-Insured. Please contact us at (786) 220-1100 to set up your free consultation. Condo hotel mortgage loans also known as condotel and financing is offered aby portfolio lenders with 25% down payment on owner occupant. Investing in a condotel property can be an excellent opportunity for individuals seeking a lucrative. Listed By Owner, douglas fournier. This FAQ document provides responses to common questions related to Fannie Mae’s project review methods and policies for determining project eligibility for mortgages secured by units in condo, co-op, and planned unit development (PUD) projects. VA Loans. 40% down payment, or 60% loan to value is required if. Morant Properties, the developer, hopes to help with that growth. COMMERCIAL. Condotels give you all the comfort of owning. Portfolio Financing for Condos and Condotels. GEORGIA CONDOS. Minimum FICO 680. More finance insights;. Pre-Sale Studio and 1 Bedroom Orlando Condo Hotel. A condotel unit is a private condominium unit inside a hotel that an individual and entity owns. To qualify, you’ll need to establish a certain minimum credit score and debt. We can finance condotels in Florida, Alabama, Georgia, North Carolina and South Carolina. Learn more. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. 1. Discover if investing in condotels in the Philippines aligns with your investment goals. Listing courtesy of Listing Agent: Michele Blase () from Listing Office: Realty ONE Group Dockside. HomeBridge announces more relaxed guidelines for CONDOTEL financing in South Carolina!In response to the June 2021 collapse of an oceanfront tower near Miami, mortgage giants Fannie Mae and Freddie Mac are rolling out new rules covering condo loans – and. At Fidelity Home Group, we are Condotel Financing Florida mortgage experts! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. The Villas at Old South is a community of condos in Bluffton South Carolina offering an assortment of beautiful styles, varying sizes and affordable prices to choose from. We consider loan-to-value ratios of up to 65%. 29577, Myrtle Beach, Horry County, SC. 10% minimum down payment is required. The condos range in size from 1,800 to 2,800 square feet. Financing condominiums in Myrtle Beach can be a very tricky process. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy bed-Full Kitchen!! Coral. owner financing available! no need for traditional condotel financing hassles! direct oceanfront full 1 bdrm, 2 queen beds plus murphy bed-full kitchen! coral beach resort is continually v Yes, You Can Get Condotel And Non-Warrantable Condo Loans. For Qualification, please review the following. In the example used above, the property brings in $1,500 monthly with a monthly payment of $1,000. Ccnb offers special rates and terms specifically for condotels that include. To qualify for condominium mortgage loans, please contact us at Gustan Cho Associates Mortgage Group at 800-900-8569 or text us for a faster response. 1025 Highway 17 South. IN the new home financing landscape created in this recession, certain categories of high-rise development are apparently. Comfortable & Spacious. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. 810 3rd Ave S Corner 3rd Ave South and Poplar Drive South. 1105 S Ocean Blvd. Minimum loan amounts commonly fall in the range of $75,000 to $150,000 for most lenders. Available 7 Days/Week MON - FRI 8am - 7pm SAT - SUN 10am – 6pm Call us (407) 955-4575. Condotel and Non-Warrantable Condo Financing. When this occurs, we can offer. For most banks and financing groups, it can take over a week to consider and evaluate your application. 5511 North Ocean Blvd #501, Myrtle Beach, SC 29577. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and Freddie Mac. . Caravelle is an Oceanfront Condo Complex in Myrtle Beach, SC. Shout or Text: (800) 900-8569. Less than 10 units, up to two FHA-Insured units. Flood Insurance Coverage Calculator. Condotel Financing Solutions: Unlock Your Dream Investment in Myrtle Beach. PRIVATELY-OWNED condominiums with a tourist market hungry for accommodations that offer top-of-the-line amenities, condotels are as much a part of the. 1. 0. Meredith, NH Office. Restaurants near Condotels at One Ocean Place, Garden City Beach on Tripadvisor: Find traveler reviews and candid photos of dining near Condotels at One Ocean Place in Garden City Beach, South Carolina. Home Spring is aware of the increased risk, but as with most of our non-traditional loans, we are willing to give people a little more leeway and assume higher risk to help people realize their dream of owning a second property. com. 169 reviews. 7. Myrtle Beach condotel financing guidelines made easy Our flexible options and expert guidance ensure a seamless experience. CENTURY 21 Real Estate › South Carolina › Myrtle Beach Homes for Sale › Myrtle Beach Condos for Sale. Condotels make great investments in touristy areas where they. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and. The minimum down payment is 3. 1,039 Myrtle Beach SC Condos for Sale. Getting a loan for a condotel is next to impossible due to the fact that most of them allow nightly rentals. About Us. Inquiries. After 15 years, the unit owners will have the option to individually lease it to others or live in it. Gena: We’re using the term “condotel” to include a broad group of properties which typically have one or more “Hotel” type characteristics. This condo comes fully furnished and offers fantastic upgrades throughout. Are you considering real estate investment in a vacation…Navigating Financing Challenges for Condotel Investments Aug 21, 2023. Text us for a faster response. com. If you are looking in Charleston County, the average price soars up to $505,000. Condotel loans are a specific type of mortgage loan for condotel units, which are a mixture of a condo and a hotel. Low-Down-Payment loans : FHA. Since we are private lenders, you will notice that terms and conditions. Assessing Risks and Returns in Condotel Investments. Typically, these condotel buildings offer amenities such as a check-in desk, on-site cleaning services, water parks, and more, while individual units are separately owned. Warrantable condos are one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and Freddie Mac. This ground level 2-bedroom condo is located. – LendSure will calculate the income for you and provide an extensive, common-sense pre-qual within 24 hours. Condotel Financing Now Available. Not many traditional lenders will allow condotel mortgages due to their increased risk. Source: acmg. Typically, each of the units within a condotel is sold to an individual owner. Many units are operated with hotel-like amenities including a front desk, activities-concierge services, and regular housekeeping service. In Part 2 of our blog series on condominiums and condotel financing, we explored the exciting investment potential of condotels. Learn what factors lenders consider in underwriting a loan on a condo hotel unit. Condotels at Surfmaster: Awesome Beach Vacation! - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. It is considered real estate. *All loans subject to credit approval. South Carolina Beachfront Condos & Villas For Sale listings have an average sales price of $342,818 ranging in price from $24,000 to $1,599,000. Petersburg CONDOTEL Financing. Barefoot Commons Branch. This rented condominium is situated on the Garden City Beach. If you are considering investing in a condotel and wondering whether now is a good time, this is the best advice we can give those who are looking for a condotel mortgage in South Carolina. Established in 1985, Barefoot Rental Management provides residential property management services in Myrtle Beach as well as Surfside, Garden City, Murrells Inlet, North Myrtle Beach, Conway, Carolina Forest, and Little River. No minimum square feet. Unlock the secrets of successful condominium and condotel financing in our comprehensive webinar series. Beaufort, Beaufort County, SC . Condo Guide for North and South Carolina, Florida and Georgia including oceanfront luxury condos and villas for sale plus condo hotels. It was a nice room close to the pool with a. We also offer our Condo/Condotel Lender List and Closed Sales Histories (Details for every sale since 2009 for over 180 resorts). 1 Percent Lists 123 Terrabella Blvd Suite 2C Covington, LA 70433 O: (877) 417-3723 M: (504) 875-6599 1 Percent Lists Franchises, LLC sells real estate franchises across the United States. It is rare for banks and residential lenders to have the ability to offer this type of financing. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors. North Myrtle Beach, SC 29582. 2 BDS | 2 BA | 1,100 SQFT. Condotels at One Ocean Place: Unit 608 Was Perfect! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. View property. Owner Financing available for qualified buyers. Florida Condo Mortgage, Florida Condo Mortgage Rates, Non-Warrantable Condo Mortgage, Condotel Mortgage Financing, Florida Condo Loans. 3910 Highway 17 South. City. Now you can offer borrowers financing for their condotels – all with the program options and service levels that you’ve come to expect from LendSure. 212 reviews. Comparing terms and consulting with financial experts can help you choose the best option. First Last. A list of local lenders and contacts who can provide traditional financing for condos and condotels in South Carolina, based on the type of loan and the characteristics of the. Pawleys Island,. $242,900. 2507 S Ocean 1/13 Blvd Unit 905. Call ☎ (800) 697-4371Myrtle Beach condotel financing guidelines made easy Our flexible options and expert guidance ensure a seamless experience. There was a time for the past three years that not a single mortgage lender would touch a Condotel unit. Condos for Sale: Condos for Sale • Little River Condos • Myrtle Beach Condos • Mt Pleasant Condos • Isle of Palms Condos • Wild. Multifamily 5 to 8 Units Financing. Max Loan $4M. Reviewed August 20, 2018. Find out the loan to value, credit,. The minimal down payment is 3% for a primary residence, and grants are available to borrowers who qualify. 4 Beds 2. Myrtle Beach, South Carolina, United States I've lived in the Myrtle Beach area for over 30 years and raised 3 daughters here who are natives. Our experts can help you with the premier mortgage. Owners use short-term rentals to generate income, listing them on platforms. com or visit us at lender overlays. Condotels at Surfmaster: Surf Master in Garden City beach, SC and hurricane Matthew - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. Miami Beach Condo Mortgages. Address Line 1. Top 10 Most Affordable Cities in South Carolina Jul 24, 2023 This BLOG On Florida Condotel Purchase Loans Was UPDATED On October 29th, 2018. 25% down payment requirements for primary as well as secondary homes. S. Learn more. Listen to this article 3 min. The Villas at Old South condos for sale range in square footage from around 1,000 square feet to over 1,400 square feet and in price from approximately $269,000 to $330,000. The Best Condotel Mortgage Lender. 438. financing on the most prestige's Condo-Hotel projects in South Florida. Get Started. (843) 839-1649. Several financial pros come with retiring in South Carolina. High LTV and Interest-Only Options. SECTION 27-31-60. Developers Reconsider the ‘Condotel’. The condotel needs to be 500 square feet with a minimum of one fully developed bedroom and kitchen. Main Office: 1320 Airlie Road | Wilmington, NC 28403 910. The following are the criteria in which properties would be allowed for condotel financing: The units need to have a full kitchen and a separate bedroom. Generally speaking, only lenders with in-house programs designed for condotels can finance condotels. The team at GCA Mortgage Group are experts in helping borrowers finance non-QM loans. Max 65% LTV Refinance. NEO Home Loans is pleased to announce our new Condotel Program designed to accommodate the purchase […] Immediate Help: (801) 893-0697. Industry-leading Bank Statement Program. 2 bath. 2507 S Ocean 1/13 Blvd Unit 905. $242,900. These rentals, including the outside marketing of them, are handled directly by the management company. Mortgage rates for condos and other types of properties have been volatile in recent years. As you can see, the price difference. Please call us at (786) 220-1100 or email [email protected] loan: A traditional fixed-rate or adjustable-rate mortgage (ARM) with assigned monthly payments and term periods. If you are frustrated and have been searching for the best Myrtle Beach mortgage companies, Jerry Pinkas Real Estate Experts has many local connections and some of the best options for home financing. If you need to qualify for a condotel and non-warrantable condo loans, please get in touch with us at FHA Bad Credit Lenders at 262-716-8151. Up to 75% LTV for Purchase Loans. 4051 Houses 40 Townhouses 92 Condos 201 Multi-Family 103 Land. Is hotel apartment a good investment? Answer: Generally speaking, condo-hotel purchases are not good investments. Need Condotel Financing in Aspen, Snowmass Village, Steamboat Springs, Telluride, Vail? We have condotel programs that allow: up to 75% financing on condo-tels to $2. #10 of 80 Restaurants in Surfside Beach. General - FAQs. If you've got a goal, we're here to help you meet it with affordable financing. RE/MAX SOUTHERN SHORES NMB. As of Wednesday, November 22, 2023, current interest rates in South Carolina are 7. A: I do not support the development of the 21-story condotel. Or email us at gcho@gustancho. If you decide to invest in a short-term rental property in a condotel, here are four tips for getting started: 1. Reed is the Principal of Myers Capital, a twenty-year old mortgage lending company located in downtown Honolulu, Hawaii and Greenville, South Carolina. Minimum down payment of 15%. Short title. The units are located within a building that has the amenities of a hotel, including a front desk as well as a cleaning staff. C. For more information, contact Oren at (312) 867-5363 x206 or by email at oorkin@capfundmtg. CONDOTEL. Discover the perfect blend of real estate investment and luxury hospitality with our exclusive condotel offerings. Up to. Condotels at One Ocean Place: 902 One Ocean Place is Excellent! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Condo For Sale In Myrtle Beach, South Carolina. Address Line 2. We are available 7 days a week: evenings, weekends, holidays as well. Demise Of Condotel Financing After Real Estate Meltdown. When people book a short-term rental, they typically. Condo Hotels are very popular in the state of Florida. 18, 2009. Owner Financing available for qualified buyers. HomeSpring is the way to go when looking to finance your home. , A151 Myrtle Beach SC 29575 Listed By CENTURY 21 The Harrelson Group. . Stretching 60-miles along South Carolina’s coast from Little River to Georgetown is the Grand Strand. Individual owners have units, but they have. North Myrtle Beach, South Carolina. 1 bed. Fannie Mae Lender Letter (LL-2021-14) specifically states that new guidelines are necessary to combat aging infrastructure and significant deferred maintenance in condominiums in the wake of. To qualify for condominium mortgage loans, please contact us at Gustan Cho Associates Mortgage Group at 800-900-8569 or text us for a faster response. Various Condotel Projects are popping up in Destin, South Beach, Panama City Beach, Palm Beach and Miami. Listed is all The. North Myrtle Beach, SC 29582. Minimum Credit Score: 575. Investment property loans Commercial & Residential Condo Hotel Loans. Submit your clients' mortgage applications through our secure online platform. Home; About Us. Call ☎ (800) 697-4371 info@afbcarolinas. Investment properties are eligible for the Condotel program. MORTGAGE CALCULATOR. However, to be able to find a lender who offers you a loan for building a condotel, you need expert supervision from Commercial Real Estate Loan Pros of Key West. Condotel Financing Programs. Financing a Condotel Purchase, Myrtle Beach, SC. 21, 2006 - PRLog-- Existing Lancaster Tower I unit owners in Metro Manila, Philippines, whom are currently availing of Pacific Concord Properties’ in-house financing for Lancaster Suites Condotels have the option to pay off their units in 144 months. Hopefully, now you understand why your regime fees will easily be $400 to $1500 a month (depending on what condo development) you own. Mortgage Calculators; Contact Us; Our Team; VA Loans; Our Blog. 75% of a refinance mortgage on a manufactured home. The team at Gustan Cho Associates are specialists in condotel financing in Florida and California as well. USDA. Take control of your finances with a personal loan. Individual owners have units, but they have. Investment. - See traveler reviews, candid photos, and great deals for Condotels at Coldstream Cove at Tripadvisor. com. The company has proposed what’s being called a “condo-tel” along South Ocean Boulevard between 30th and 31st Avenue South. A condo is also known as a condominium. (DSCR is always expressed as a decimal. Toll Free: 1-888-667-1772. Fannie Mae Lender Letter (LL-2021-14) specifically states that new guidelines are necessary to combat aging infrastructure and significant deferred maintenance in condominiums in the wake of. For sale. Today we explore the World of Condotel Financing and discover the benefits and drawbacks to consider. Loan Amount Range: From $100k up to $4 million. 8999. Get ongoing access to funds with a home equity line of credit by itself or combined with a first mortgage. A condotel is just what it sounds like—a cross between a condominium and a hotel. Typical features could include an onsite rental office; onsite commercial space (s) such as restaurants, day spas, convenience stores, etc. favorite_border 0. Water temp is wonderful in June!Myrtle Beach Condos with an Angle Oceanfront View. Rock Hill, South Carolina 42 contributions 22 helpful votes. Subscribe now. Reed has been profiled in and written articles featured in Pacific Business News, The Honolulu Star Advertiser, The Greenville News and as a guest speaker on various radio talk shows. com. Building or project needs to be more than or equal to 50% for commercial – this will be determined by the appraiser. How.