If you are looking to grow your Calgary business, a mortgage broker can help you create new opportunities for yourself and your employees. Commercial mortgages may help you purchase a property that help you fulfill that growth plan.
Nurture your company by using a commercial mortgage or loan to acquire income-producing buildings such as office, commercial, industrial and retail space, or a multi-residential property. As long as the property is in an active market and has a current appraisal, a commercial mortgage will allow you to finance or refinance it for your business.
To qualify for a commercial mortgage the property must be for office, industrial, commercial or retail use. The real estate must be located in a viable area with other properties of equal value.
Commercial mortgages are for a five-year term unless your property is Canada Mortgage and Housing Corporation (CMHC) insured, whereby you may apply for a ten-year mortgage.
Commercial mortgages, for some lenders, are any mortgage held in the name of an operating company. In this case, if an operating company bought a residential property to rent, it may be considered a commercial loan to some lenders.
Commercial real estate loans could make it possible for you to get on the path of being your boss or simply add to your portfolio. Regardless of the reason, we can help get you there.