Commercial Mortgage in Mississauga

If you’re amid finding a Mississauga property for your company to call home, our commercial mortgage brokers can help you settle on a trusted mortgage lender.

With years of experience, our team knows the ins and outs of commercial mortgages, and we’re more than happy to guide you through the process of applying for one. We’ll locate affordable rates and flexible terms, and we’ll assist you in selecting the perfect mortgage for your situation.

Find the best financing solution for your commercial investment. Give us a call now at (416) 258-0156 to discuss over the phone or schedule a consultation at the earliest convenience.

What Does a Commercial Mortgage Mean?

When it comes to understanding commercial mortgages, our team is always happy to clarify. Essentially, a commercial mortgage is a loan secured by a business to finance a property. Generally, the company in question is incorporated, meaning the owner is protected from all personal liability.

Before taking out a commercial mortgage, be sure to speak to our professionals to ensure this type of mortgage is a suitable option for you.

How Does Commercial Mortgage Work?

Lenders will assess your business and its credibility thoroughly to determine whether you qualify for a commercial mortgage. There are specific qualifications and high standards a company must meet to get a commercial loan. The following criteria will be analyzed in-depth:

  • Debt-Service Coverage Ratio (DSCR)
  • Current business situation
  • Financial projections
  • Credit history
  • Down payment

After looking over these details, a lender should have a good idea of whether you’ll be able to repay your loan consistently.

Still, a commercial mortgage is risky for the lender as companies can often go bankrupt unexpectedly. For this reason, the financed property is used as collateral in the mortgage agreement. Our mortgage experts will help you understand every aspect of the qualification and application process.

What Deposit Is Needed for a Commercial Mortgage?

The deposit, or down payment, required are considerably high. Usually, the deposit ranges from 25% to 40% of the value of your commercial investment. Our brokers will work hard to find you the most competitive commercial mortgage rates. We remind you that it is not always in your best interest to make a smaller down payment. Paying more upfront can mean you pay less interest in the long run.

How Many Years Is a Commercial Mortgage?

Since a commercial mortgage is considered a high-risk loan, the lender will typically set a shorter loan term than it would for a residential mortgage. The goal here is for mortgage companies to receive their money back as soon as possible.

A commercial mortgage term can last between 3 to 20 years, but the standard is no more than 10. The loan period depends on your financial situation.

Get a Commercial Mortgage with the Help of eMortgage Solutions

Getting a commercial mortgage is simple in Mississauga.

All you must do is give our mortgage professionals a call at (416) 258-0156. Our representatives are happy to help you get started.

We look forward to helping you explore the mortgage options available to you.