Qualifying for Commercial Mortgage Financing
If you’re in the market to purchase, refinance or develop a commercial property, from mixed use, retail, industrial, office, multi-family or apartment buildings to special purpose use, like automotive, hotels, rooming houses, short term rentals, vacant land, etc, or you are a business owner looking for a business loan or equipment financing, we have options for you! Our commercial team at Capital 360 Mortgage, with over 50 years combined commercial lending experience, will negotiate the best possible rates and terms for you with multiple lenders on your behalf.
What kind of financing is right for you?
It all depends on what kind of financing you’re looking for – purchase or refinance, owner occupied or rental, repositioning or construction financing, etc. Commercial mortgages have varied terms, from 12 months to 30 years, as well as varied fees, interest rates and conditions depending on the nature of the deal.
Our Capital 360 Mortgage commercial agents have the knowledge and experience to help you determine what mortgage or financing option is best for you based on your unique situation.
What are the minimum down payment requirements?
Down payment requirements for commercial mortgages can vary widely depending on several factors, including the lender’s policies, the type of property, and the borrower’s financial strength.
Typically, lenders expect a downpayment of 20% to 35% of the property’s purchase price or appraised value. Lenders will consider the type of property when determining down payment requirements. Properties that are considered higher risk, such as hotels, restaurants, or properties in economically volatile areas, may require larger down payments to offset potential risks.
A Capital 360 Mortgage Agent can help you navigate through the process and achieve the lowest possible mortgage rates and the best possible terms.