Commercial Mortgages
Commercial projects can range from apartment buildings, shopping centres, office buildings and industrial properties. We have a team of experts to handle all types of loans ranging from construction financing to term loans.
While you can get a commercial mortgage from many types of the same lenders that provide residential mortgages (such as a bank, credit unions, trust companies, and private lenders who invest their personal money into mortgages), the interest rates are typically slightly higher on this form of financing than the rates on residential home mortgages. The lowest interest rates for commercial mortgages are on first mortgages that are insured by a third-party mortgage insurance policy from a company like the CMHC. CMHC specialized in mortgage insurance and do not provide other more traditional kinds of insurance such as life insurance or auto insurance.
Applying for a commercial mortgage requires more time, effort, and documentation than a residential mortgage. With the help an experienced professional commercial mortgage broker your search for the right commercial mortgage can be easy. You will be presented with tailored mortgage solutions specifically made to cater to your needs and goals. We will find the best lender and find the right mortgage program for your commercial and business needs. Our commercial brokers work hard to provide you with the highest level of customer service and help get you approved for a commercial mortgage loan easily and hassle-free.
A private commercial mortgage is one of the easiest types of commercial mortgages to qualify for, and in many cases, you will not be required to go through a credit check. If credit is a concern, then a private mortgage may be the best solution. Even if a credit check is required, a private lender will still likely lend to you if you have bad or even horrible credit. However, your interest rate may be higher if your credit score is extremely poor, and you have a history of missing payments.
Our commercial mortgage team can arrange commercial mortgages and equity take out loans for almost any type of project including:
- mixed-use
- storefront plus apartments
- multi-family
- retail
- office buildings
- industrial
- hotels
- medical buildings
- shopping malls
- warehouses
- land purchase and redevelopment
- construction projects
Our team of commercial experts specializes in getting fast approvals and finding innovative and unique solutions quickly, while providing exceptional customer service.
Construction Mortgages
These mortgages allow you to secure a flexible payment option to maintain a manageable cash flow during all phases of building. You also have the option of assessing an open mortgage (interest only) with the ability to lock in to the top fixed-rate mortgage when construction completes.
CMHC Insured Mortgages
CMHC insures the following types of construction projects:
- High-rise & mid-rise condominiums
- Freehold properties (single family home developments, townhouses etc.
- Apartments/condominiums to be built for rental purposes
- Retirement & Nursing home developments
- Mixed use property development, where the residential component represents at least 80% of the overall project.
- Student housing developments
Institutional Financing
Having strong relationships with dozens of institutional lenders across Canada allows us to provide many options for commercial financing. Our relationship with these institutions makes the difference in obtaining the best possible terms for your financing needs.
If you are in the market for a commercial loan, reach out to our team of commercial specialists today!