A commercial mortgage is a mortgage loan given to the owner of a property that is not considered a residential home. It can be one of the largest financial investments that an investor makes in their life. The lender has security that the loan will be paid back because they have your property as collateral. In some cases, you may be required to assign multiple properties as collateral to account for any shortcomings to available equity or your ability to qualify for the full amount that you require.
We make it easy for our customers to apply and get approved for a commercial mortgage!
An industrial building, office unit, apartment building, shopping mall, storefront plus apartments, retail plazas, and hotels are just some examples of the different types of commercial properties that you can get financing in the form of mortgages on. Similar to residential mortgages on a home, a commercial mortgage loan can come in the form or a first, second, or third mortgage, although first and second mortgages are much more common than third mortgages are.
Applying for a commercial mortgage requires more time, effort, and documentation than a residential mortgage. With the help an experienced professional mortgage broker from Crown Mortgage Crop., your search for the right commercial mortgage becomes easy! You will be presented with tailored mortgage solutions specifically made to cater to your needs and goals. We will find the best lender and find the right mortgage program for your commercial and business needs. Our commercial brokers work hard to provide you with the highest level of customer service and get you approved for a commercial mortgage loan easily and hassle-free.
A private commercial mortgage is one of the easiest types of commercial mortgages to qualify and in many cases, you will not be required to go through a credit check. If credit is a concern, then a private mortgage may be the best solution. Even if a credit check is required, a private lender will still likely lend to you if you have bad or even horrible credit. Your interest rate may be higher if your credit score is extremely poor and you have a history of missing payments.
