A commercial mortgage is a mortgage loan secured by commercial property. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property. Commercial mortgages are structured to meet the needs of the borrower and the lender.
Various interest rate types are available for financing commercial mortgages. These rate types are:
- Variable interest rates allow you the greatest repayment flexibility. Pay off your principal balance whenever you want without any pre-payment penalty.
- Choosing a fixed interest rate allows you to reap the benefits of predictable payments with a non-changeable interest rate over the duration of your mortgage term.
Types of commercial mortgage financing we can help you secure include:
- High-rise and mid-rise condominiums
- Freehold properties (single family developments, townhouses etc.)
- Condominiums to be built for rental purposes
- Retirement and Nursing home developments
- Mixed use property development
- Student housing developments
- Other types of commercial-purpose developments
- Construction financing
- Other types of commercial financing solutions
One of our agents can help you find the mortgage term that is best suited to your financial goals, help you asses your financing strategies and ensure you have access to ideal financing solutions. Contact us today to talk about your financing strategies for commercial mortgages.