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Getting a Commercial Mortgage: What Are Your Options?

Posted onOctober 14/2020By

Owning a commercial space is a great investment opportunity. You can count it among your business assets and even rent some of the space to bring in some extra revenue. However, a commercial mortgage can be quite different from a residential mortgage. The process of applying and securing a commercial mortgage often includes assessing the investment, selecting a location and property, finding the right mortgage professionals to help with the purchase, and applying for the mortgage. There are also several options when seeking a commercial mortgage, including a real estate mortgage, working capital loan, or a line of credit, among…

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Reasons for Denying Commercial Mortgages and Startup Business Loans

Posted onSeptember 26/2019By

If you are thinking of obtaining a commercial mortgage in Ontario or a business loan to open the business of your dreams, then you may be faced with a few obstacles. Trying to secure a mortgage or loan of any kind can prove to be challenging if you do not know where to go or where to start. There are also many reasons why you or your business partners may be denied for a commercial mortgage in Ontario or a startup business loan, which we will discuss in this article. Why Lenders Reject Commercial Mortgage Applications If the loan underwriter or the bank’s loan officer is not satisfied with your business proposal, then they may deny your application. For your business plan to be accepted, they need to feel that the plan firmly supports the requested loan amount, meaning they need to be confident in your business plan. Also, if…

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Business at a Value: Low-Interest Commercial Mortgage Loans

Posted onFebruary 04/2019By

Finding the perfect space for your business requires a keen sense of location. Where your business is located could easily make or break its name in the market, which is why prime real estate such as storefronts along busy streets or large expanses of land quickly skyrocket in value. For budding entrepreneurs, this can mean entering the race to finding the best terms for a commercial mortgage. The goal is to maintain low and steady interest rates on your commercial mortgage. This way, your business maintains a healthy cash flow. Find out how you can do that here: How to Lower Commercial Mortgage Interest Rates: Finding the Best Financing Option Commercial mortgage terms are contingent on the financing options that you select. Putting down a strategic amount of capital towards acquiring or leasing a commercial property will reduce the number of mortgage payments you will have to make, as well…

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Financing for Commercial Real Estate Projects in Canada

Posted onNovember 14/2018By

Obtaining a commercial mortgage in Ontario will allow you to either expand an existing property or purchase an altogether new property. Business debts can also be consolidated via a commercial mortgage in Ontario. However, the procedures or steps that are involved in getting a commercial mortgage are quite different from the steps required to qualify for a residential mortgage. It should also be noted that the interest rates for commercial mortgages tend to be much higher than their residential mortgage counterparts, as the risks incurred tend to be far greater with commercial properties. The good news is interest rates have…

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How to Get a ‘Yes’ on Your Commercial Mortgage Loan

Posted onMay 07/2018By

There are can be many obstacles to obtaining a commercial mortgage, whether you’re a startup or an established business looking to expand. Some of these obstacles you can influence but many are out of your control. For example, if the economy is performing poorly, then banks will be more reluctant to approve your application — especially if you don’t contribute a large down-payment. Other factors that are out of your hand as an applicant could be the bank’s risk assessments and the demand in your market. Get Educated On Commercial Mortgages A commercial mortgage can not only be used to buy a building but can also be used to offset the costs of a renovation or expansion. Before submitting a request for a loan, know the pros and cons. Knowing the terms of the commercial mortgage can help you make proper use of the loan and to create an appropriate…

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