Commercial Mortgage Loans

Commercial Mortgage Loans
Commercial Mortgage Loans are specially tailored for purchasing property that can be used for commercial use,​ the​ expansion for current business premises,​ and any residential and commercial investment as​ well for property development.
Difference between residential loans and Commercial loans
If you​ are considering buying a​ property of​ four units or​ less,​ it​ is​ considered as​ a​ home loan .​
However a​ property of​ five units or​ more is​ considered as​ a​ commercial loan .​
Commercial mortgage loans can be obtained at​ different variable interest rates as​ compared to​ residential loans .​
Commercial Mortgage rates
The interest rate of​ commercial loans is​ much higher as​ compared to​ the​ residential loans .​
This is​ quite obvious as​ commercial loans are considered risky by many bank lenders,​ as​ the​ ability to​ meet the​ repayments is​ dependant on​ the​ performance of​ the​ business .​
Therefore the​ rate of​ interest is​ charged after the​ lender has carried out a​ thorough assessment of​ your business proposal .​
If your business has a​ good standing and has shown stability over the​ years then you​ shouldn't have much problem in​ securing a​ commercial mortgage loan .​
You can obtain a​ commercial mortgage loan for a​ standard period of​ 25 years with domestic property .​
It can also be as​ short as​ a​ ten year repayment term.
If you​ are considering buying a​ business property or​ expanding your current business you​ can take assistance of​ a​ broker like I​ Loan Resource,​ we can help you​ meet all your requirements and provide you​ a​ commercial mortgage loan that best suits you.
I Loan Resource use only the​ best lenders from worldwide to​ help you​ with your loan problems .​
We have pre-qualified these companies and set strict standards that they must educate you​ on​ your loan and not conceal any costs that you​ will incur .​
If you​ are looking to​ refinance your home,​ get a​ new home loan or​ just using your equity to​ consolidate your debt then I​ Loan Resource can help you​ find the​ right lender.
If you​ are worried that your credit is​ bad then please fill out our online form and we will have a​ specialty lender contact you​ and explain how you​ can get the​ loan that best suits you.

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