A commercial mortgage broker in Toronto is beneficial as you navigate the commercial real estate industry. Your mortgage can help you in many ways, including determining the right type of mortgage based on your:
- Business model
- Current business value/equity
- Credit score
- Incoming projections
At Northwood Mortgage, we work with businesses across the Greater Toronto Area.
We strive to be a brokerage that our clients can trust. In an ever-changing market, it’s important to have someone in your corner.
If you’re a business needing a new commercial property, then having the right mortgage helps. Here, we’ll discuss the finer points of choosing the right commercial mortgage broker in Toronto, including the right questions to ask.
What sized companies have the broker worked with?
In Toronto, there are businesses of all shapes and sizes. As you search for a credible commercial mortgage broker, consider the sizes and types of companies that potential brokers have worked with in the past.
For example, if you’re a large company, your commercial building needs will differ from a small family business. The type of mortgage you need will also change.
Working with a broker who has dealt with similarly sized companies within your industry is key.
How big is their network?
Brokers work with several financial institutions to find their clients the best mortgage rates. How big your broker’s network is will play an integral role in the type and amount of mortgage you are approved for.
Choose a broker with good connections and a proven track record for sussing out the best rates.
Brokers who partner with only one investor or financial institution may try to convince you to choose their connection over a better one.
Is your broker familiar with inflation and building costs?
Toronto has not been immune to the inflation of construction costs. Having a knowledgeable broker on your side gives you the best chance of a mortgage with enough wiggle room to cover those unforeseen building fees.
Choosing an inexperienced broker without knowledge of the commercial building sector could leave you without the supplies needed to complete a commercial project.
As a leading commercial mortgage broker in Toronto, Northwood Mortgage is constantly monitoring changes in the commercial real estate market, including commercial construction costs.
This lets our clients rest easy knowing we have the information they need to acquire the right mortgage for their project.
Check Out What Past Clients Are Saying
References and online reviews are telling about commercial mortgage brokerages. You can learn a lot about a brokerage from past clients.
A brokerage in good standing should also have a few references they can put you in contact with.
However, online reviews should be taken with a grain of salt.
After seeing what past clients are saying, be sure to chat with the brokerage yourself to get a feel for the kind of people they are.
Contact Northwood Mortgage
Interested in learning more about commercial mortgage brokers in Toronto? Northwood Mortgage is here to help.
We work closely with clients to obtain a custom selection of mortgage options based on their individual needs. To speak with one of our professional brokers today, we invite you to call us at 1-416-969-8130, or visit us online.