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Small Business > Borrowing and Credit > Mortgages > Commercial Mortgages

Commercial Mortgages

A commercial mortgage is designed for businesses and investors who wish to purchase or refinance income producing, commercial properties. With competitive interest rates and a national network of real estate specialists, we are committed to finding solutions meeting the individual needs of each customer.

How can this help my business?

  • A Commercial mortgage provides funding over $1,000,000 for long-term financing of income producing properties

What else do I need to know?

  • To qualify, the real estate must be a multi-purpose, industrial, office, commercial, retail, or a multi-residential (5+ units) property
  • The property must be located in an active resale and rental market where current market rents exist for comparable properties, and where the property is readily marketable
  • Mortgages require a current appraisal (AACI-qualified, bank approved appraiser; CMHC guidelines apply for CMHC insured mortgages), a passing environmental report (phase 1 ESA) and may need a report on the building condition
  • Variable and fixed rate options are available. Variable rate option (prime-based) can be converted to fixed rate option
  • Mortgages are available for a maximum of 5 years (10 years for CMHC-insured properties)
  • Multi-residential buildings may be amortized over 25 years (CMHC-insured may be up to 35 years). Other types of property may be amortized over 20 years