The loan is to payoff/combine a dwelling secured bridge consumer loan (house won't sell) and a commercial loan secured by an apartment complex. The consumer loan payoff is $250,000. The commercial loan payoff is $50,000. The value of the dwelling is $250,000 and the value of the apartments is $400,000. The new loan will only be secured by the commercial property. Should this be classified as a consumer loan or commercial loan?
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