- Think you've got what it takes to launch the next big Canadian business? That's great-- but how are you planning to fund this exciting new business project? Whether you have to expand operations or are simply looking for a new location, securing a commercial mortgage can help you take care of your business costs effectively. FamilyLending.ca collaborates with both institutional and wholesale commercial mortgage lenders in order to prepare competitive financing solutions for a wide range of commercial properties.
Different businesses have various financing requirements
A commercial mortgage broker can assist you find a great variable or fixed commercial mortgage rate for a vast range 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 these business types. If you're having difficulty finding a lender who 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 deemed a higher risk. This is especially 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 include two interest rate options-- variable and fixed. If you're not familiar with fixed and variable rates you can take a look at Family Lending's resource article: Fixed Mortgages Versus Variable Mortgages.
It's important to bear in mind that commercial lenders have different criteria for each commercial mortgage situation. This makes comparison shopping extremely difficult for a first time commercial property buyer. Take advantage of Family Lending's resources and competence when it comes to searching your commercial mortgage. Our commercial mortgage brokers are constantly available to answer your questions or provide you with friendly financing advice.
Expand your business with peace of mind
Commercial mortgage refinancing is a fantastic way to generate additional funding for business growth. If you are currently considering a commercial mortgage refinance, make sure you shop around with an experienced FamilyLending.ca mortgage broker for you to find the best rate. Our knowledgeable experts can assist you in refinancing your present property for the purpose of undertaking renovations, franchising, expanding, or simply to secure better terms and conditions.
Ready to get started on the road to commercial prosperity? Begin your commercial mortgage pre-approval process today with Family Lending's online mortgage application.