A commercial mortgage is a loan taken out on commercial real estate (as opposed to residential) with the property as collateral. The borrower is generally a company or business as opposed to an individual and the business may be either a partnership, limited company or incorporated. Consequently, assessing credit history is more complicated with this type of mortgage.You can also expect commercial mortgage rates to be significantly higher than residential rates due to the increased risk.
For commercial mortgages, it can be difficult to compare rates as lending criteria are not typically advertised and terms and conditions can differ greatly. It is advisable to procure the services of a mortgage broker. A commercial mortgage broker usually deals with office, industrial, retail and rental apartment properties and can generally connect you to a number of lenders in the required area.
It can be difficult to compare rates for commercial mortgages, as the lending criteria are not typically advertised, and the terms and conditions can differ greatly. This is where a professional mortgage broker is even more invaluable. A commercial mortgage broker is familiar with office, industrial, retail and rental properties, and can find the right lender in your area.
Sandhu & Sran Mortgages is a full-service commercial mortgage provider. We can quickly and conveniently arrange the commercial real estate mortgage loan you want for a broad range of commercial buildings and rental properties. We specialize in developing flexible, innovative solutions with prompt approvals and exceptional customer service. We offer competitive interest rates on a wide range of fixed and variable rate mortgages. From originating the mortgage through to the ongoing administration, we take care of every detail involved to make your job easier.