Increase your buying power with a commercial mortgage
Are you a commercial property investor and tired of applying for mortgages, only to be turned down?
Many of my clients do residential mortgages, but I am also experienced in arranging commercial mortgages. I work hard to get you the best approval possible on any property-from rental buildings to warehouses, construction or raw land. I can arrange commercial mortgages anywhere in BC.
What is the Process For Commercial Mortgage Applications?
The process varies slightly from a residential mortgage.
- It usually takes a more time to receive a letter of interest, and most documentation is required up-front.
- In commercial financing, I do not receive compensation from the mortgage lenders and need to charge a service fee. The benefit to you is that I will get you an approval faster with better terms and conditions. This is an important consideration in commercial financing, as the time you will save in the arrangement of the mortgage could more than pay for any additional costs for arranging the mortgage financing.
What Other Costs Would I Face to Complete the Mortgage?
In commercial mortgage financing, the borrower is responsible for all fees including
- environmental survey,
- cost consultants,
- lawyers fees for both your lawyer AND the lender’s lawyers.
Interest rates for commercial mortgages can be higher than residential mortgages, and you will often require a larger down payment to obtain a commercial mortgage than you might require for a residential mortgage.
Need a Commercial Mortgage?
Please complete the simple form below with your contact information and some general information about the project you are looking for mortgage financing for, and I will be in touch with you shortly.