Warning: include() [function.include]: URL file-access is disabled in the server configuration in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include(http://www.hurryloan.com/rightbar.php) [function.include]: failed to open stream: no suitable wrapper could be found in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include() [function.include]: Failed opening 'http://www.hurryloan.com/rightbar.php' for inclusion (include_path='.:/usr/local/share/pear') in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78   Go Back To Search Results Question Is a rental house bought with a commercial loan taxed differently than one purchased with a normal home loan? I financed 100% with my partner through a commercial loan because it was unsecured and simple. It's a house near an industrial area that we were going to rezone and sell commercial. However, the costs associated with rezoning were excessive and now I would like to just sit on it for a while but we are paying high commercial loan rates and I would like to get the monthly payment down. By crude_oil Posted on 10/12/06 Total Answers 2 Answers- Real Estate taxes on commercial property is slightly higher than for residential. The real tax that you would get taxed differently is on the profit you make when you sell the property. You will be taxed as a business rather than that as an individual. Hopefully you are set up as and LLC or LLP. Answer by : steve s On Date 2006-10-12 07:36:29 Not as property taxes go...but there is obvious differences as far as income tax deductions and capital gains taxes upon sale go. To get the payments down you will want to refinance that into some type of residentail product with say a 5 year fixed term (for total payment security), or an adjustable rate product for the absolute lowest payment (these are ok for short term, 2 - 3 year solutions). Right now rates are down (from what they have been the past 6 months). Hope this helps. Tom Voli tom.voli@gtofinancial.com Answer by : tomvoli On Date 2006-10-12 07:46:18   Go Back To Search Results