The difference between condos and loft condos in San Francisco
Question:What is the difference between a condo and a loft condo? Is there a difference from a mortgage perspective?
Answer:
In the past, a loft condo had a live/work designation, and you had to have a business license in order to live there. Most lenders would treat them the same way as they treat a primary residence. The only issue would be the success of the business you would be running out of your loft.
Today loft condos are described as a condo in which the bedroom is a loft but you do not necessarily have to have a business license to own them. Both types of units are treated exactly the same for lenders.
- Janis Stone
posted by SFResidence.com @ 7:53 AM
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