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A commercial mortgage is a mortgage for a building that will be used for business. Commercial mortgages are like a residential mortgage, but can differ in a few ways. Commercial mortgages are a little riskier than a residential mortgage. They are not for someones home, but rather for business use, usually a start up business which in and of itself produces a risk to the lender.

Commercial mortgages require the same steps as a residential mortgage. However, with a commercial mortgage if the business has an established line of credit separate form the individual business owner, then the businesses credit is used to secure the loan.

Commercial mortgages can have a fixed or variable interest rate. A fixed rate will stay at the same percentage for the life of the loan. A [ Continue Reading ]

Opting for commercial mortgages is the best way to finance the acquisition of land and buildings for business purposes. They provide easy finance. These types of loans are secured on commercial property such as shops, business premises, warehouses, factories, workshops, garages, hospitals and schools.

These mortgages are broadly classified into two main categories. The ‘owner occupier’ commercial mortgage wherein the borrower wishes to acquire the business premises for personal use. Secondly, a commercial mortgage such as a ‘commercial investment’ wherein the borrower purchases the property with a view to rent it out. Depending on the personal need, a borrower can make use of the loan.

Find out on What Basis is Commercial Mortgage [ Continue Reading ]

The other day a fight commercial mortgage broker wrote to me and begged me for advice. He was not the closure of one thing, and he was scared to death. This is what I told him:

Now stick exclusively to small business loans permanent. I do not work at just over $ 3 million unless you have a special relationship with the borrower (former client). Small business loans are those that close and feed his family.

Do not waste time working on large Commercial mortgage loan. Large loans not just close.

Do not waste precious time working on the construction loan. The world has a lot more homes and commercial buildings at the moment.

Never waste a minute on international loans. We never close. Ever. Ever!

Read my blog every [ Continue Reading ]

(c) 2008 Donna Elizabeth Lewczuk

Commercial mortgages are available through banks, commercial mortgage companies and private lenders. Commercial mortgage rates vary as widely as residential mortgage rates. Traditional banks offer some very low rates. However, due to their restrictive lending criteria, they are prevented from making commercial mortgages for many kinds of commercial properties. Gas stations, with or without convenience stores, for example, can be difficult to obtain commercial mortgages for. Commercial mortgages can also be difficult to obtain from traditional banks if you don’t have excellent personal and business credit scores.

Hard money commercial mortgages are also available through private lenders. Unlike traditional banks, private lenders have [ Continue Reading ]

If you plan to apply for a commercial mortgage, it is necessary to first point out the reasons why do you really need a mortgage. This will help you to get the best out of deal that you settle with.

If you are looking forward to purchasing a commercial property or to expand your existing facilities, to acquire multi unit properties or even to refinance the existing debt, commercial mortgage provides you with necessary funding. You can go to the banks and other institutions that offer several mortgage plans and can select the best type of repayment that suits your business. Depending on your need, the following points are always to be kept in mind for a commercial mortgage deal:

How a commercial mortgage works

What are your responsibilities

The types of [ Continue Reading ]