Whether purchasing commercial real estate as an investment or for your business we provide commercial lending for multi-family, development, retail, office, land, industrial, hotels, farms and construction projects. We offer lending solutions with an emphasis on flexibility and competitive interest rates from over 35 lenders.
A commercial mortgage is a loan secured on commercial real estate. Commercial properties are typically a purchase inside of a corporation and often require a personal guarantee from the borrower.
Lenders typically focus on the revenue of the property and the strength of the borrower as a secondary consideration. Borrowers with lower personal income but strong net worth who do not qualify for residential lending can often qualify for commercial loans.
Commercial lending generally requires larger down payments but can offer competitive interest rates. CMHC insured commercial loans have interest rates lower than residential lending. Uninsured commercial loans generally see interest rates about 1% higher than residential lending rates.
Commercial lending takes longer than residential lending. Typically, the subject removal period for a commercial transaction will be 30-60 days.
What types of properties qualify for commercial lending?
- Residential buildings with 5+ doors
- Detached properties with business activity
- Apartment buildings
- Real Estate Portfolios (inter alia financing)
- Retail Space
- Bare land
- Mobile Home Parks
- Industrial Properties
- Construction Projects