Mortgage Talk

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Commercial Mortgages

Think you've got what it takes to open the next big Canadian business? That's great – but how are you going to finance this exciting new business venture?

Whether you need to expand operations or are simply looking for a new office address, securing a commercial mortgage can help you manage your business costs effectively. FamilyLending.ca works with both institutional and wholesale commercial mortgage lenders in order to arrange competitive financing options for a wide variety of commercial properties.

Different businesses have different financing requirements

A commercial mortgage broker can help you find a great variable or fixed commercial mortgage rate for a wide variety of commercial properties, including:

- Multi-family housing and apartment buildings

- Mixed use spaces

- Self-storage facilities

- Retail plazas and office buildings

- Warehouse and light industrial properties

- Special purpose and unique venues

- Hotels and motels

- Restaurants

- Health care, including assisted living, nursing and retirement homes

Very few banks offer commercial mortgage rates for all of the above business types. If you're having difficulty finding a lender that will work with your unique venture, contact Family Lending toll-free at 1-866-941-6678 and one of our commercial mortgage brokers will connect you with an appropriate financing provider.

Understanding commercial mortgage rates

It is very common to see commercial mortgages carrying a higher interest rate than those of a residential property as commercial mortgages are considered a higher risk. This is particularly true if your deposit is lower than 25% of the commercial property's cost. Commercial mortgage terms are set by the lender and are normally between 10 and 20 years. As with residential mortgage rates, commercial mortgages boast two interest rate options – variable and fixed. If you're unfamiliar with fixed and variable rates you can check out Family Lending's resource article: Fixed Mortgages Versus Variable Mortgages.

It's important to note that commercial lenders have different criteria for every commercial mortgage situation. This makes comparison shopping extremely difficult for a first time commercial property buyer. Take advantage of Family Lending's resources and expertise when it comes to searching for your commercial mortgage. Our commercial mortgage brokersare always available to answer your questions or provide you with friendly financing advice.

Expand your business with confidence

Commercial mortgage refinancing is a great way to generate additional funding for business expansion. If you are currently considering a commercial mortgage refinance, make sure you shop around with an experienced FamilyLending.ca mortgage broker in order to find the best rate. Our knowledgeable experts can assist you in refinancing your current property for the purpose of completing renovations, franchising, expanding, or simply to secure better terms and conditions.

Ready to get started on the road to commercial success? Then start your commercial mortgage pre-approval process today with Family Lending's online mortgage application.

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Does Your Down Payment Stack Up?

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