A Commercial Mortgage Is Commonly Used For:
- Businesses investing in income-producing real estate properties greater than $500,000
- Financing multi-residential (minimum 7 rental units), industrial, office or retail property
- Financing properties that are readily marketable and located in an active resale and rental market
- Mortgages require a current appraisal (AACI qualified, bank approved appraiser), a passing Environmental report (Phase I ESA), and may require a Building Condition Report
- Canada Mortgage and Housing Corporation (CMHC) requests, if required, must comply with CMHC guidelines
- Competitive interest rates, terms and conditions
- Variable and fixed rate options are available, with the ability to convert from variable to fixed if interest rates fluctuate
- CMHC insurance is available when required
What Else Do You Need to Know?
Business Loan Insurance Plan is available for mortgages up to $1,000,000 (certain conditions may apply†)
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