I'll preface by saying this isn't my property and I'm not privy to all the details. My coworker was talking to me about their situation and I offered to pull on the power of TexAgs to see if any lenders here wanted to take a shot.

They own an rental house in Kyle (and have for maybe 5 years or so) and are trying to refinance. Their current note is seller financed and they're paying 6% on about a $140k balance. They've been going to local banks and CUs, but haven't been able to make any progress because the property is zoned as retail/services. They're being referred into the commercial lending sections and running into walls (don't know the specifics there).

Sorry for the lack of detail. If this sounds like a loan product in your arsenal let me know and I'll pass along your contact info. Email is in my profile or feel free to post here.

I don't think that loan is out there but I can check. Rates are not that much lower then what he has already. I mortgage so don't take this as gospel but I think the appraiser will have to state its highest and best use is commercial so Fannie will not accept it.

If they go portfolio loan rate might be even higher then what he's got.