GET THE COMMERCIAL MORTGAGE SOLUTIONS YOU NEED

A commercial or industrial mortgage may be what you need if you want to buy land or property for your business and need a loan to do so.

For any inquiries, please contact our Commercial Lending Specialist, Max Lindsay, at max@mfco.ca.

Commercial Mortgages In Hamilton

Most mortgages, whether they are residential or commercial, use the property as collateral to protect the loan. This loan can come in the form of a first, second, or even third mortgage. In some cases, the investor may have to use more than one property to secure the loan. This is done to account for any limits on the available equity or your ability to qualify for the full loan amount you’ve asked for. 

In any case, the skilled commercial mortgage brokers at MFCO Financial Corporation can help speed up the application and approval process for your commercial or industrial mortgage for any amount between $100,000 and $100,000,000, or even more.

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What Is A Commercial Mortgage? 

Real estate investors who want to get a commercial mortgage or refinance a property they own often have a hard time. That’s why you might need the help of commercial mortgage brokers to make the process easier. 

There are many different types of commercial properties that may qualify for a commercial mortgage, including:

 

  • Raw land
  • Retail stores
  • Factories
  • Office space
  • Apartment buildings
  • Hotels
  • Commercial condos
  • Institutional and specialty properties
  • Shopping malls
  • Multi-use properties
  • And much more

Why You Need A Commercial Mortgage

Lenders look at any risk factors in your commercial mortgage application. This may mean that they need more information from you than they do for residential loans. Most applications for industrial mortgages need an appraisal. However, some lenders may also need an environmental study of both the property and its site. A lot of other things, like income statements, lease agreements, the condition of the property, the quality of the tenants, and more, can also affect the process of getting your commercial application approved. 

By giving the lender this information, they can better understand and evaluate the deal, which helps them make a decision about your commercial mortgage application. 

Lenders are more likely to agree to good terms on a commercial or industrial mortgage if you have a financial plan for your property or business. This is especially true if they are sure you can make a steady income from the investment in addition to just securing the commercial property. Giving the lender proof of the property’s monthly income will make them feel better, which will cause your interest rate to drop, saving you more money.

Is A Commerical Mortgage Riskier Than A Traditional REsdiential Mortgage? 

Commercial mortgages tend to be riskier than residential mortgages. When we give out residential mortgages, we base our loans on how easily the property can be sold. 

This refers to the place, the state, and the value. But when it comes to commercial properties, we need to figure out how marketable they are and how much extra risk they pose. 

One more thing that could go wrong with your business is that it might not be successful. For example, a commercial mortgage may be different depending on where it is. There will be more traffic in a city like Hamilton than in a rural area.

Why Choose Mortgage Financial Corporation For Your Commercial Mortgage Needs?

We’re proud of the fact that we offer a unique mortgage experience. We work with our mortgage brokers to make sure that your future is safe. 

Commercial mortgages can be harder to get than mortgages for residential properties. Our commercial mortgage brokers in Hamilton can help you get a commercial mortgage in Hamilton and get through all the steps. 

Our team will be with you every step of the way, from helping you figure out how much money you need and how to fill out the paperwork to finding you the best interest rates and terms for a commercial mortgage.

Discuss Your Commercial Mortgage Options Today

Reach out to the team at Mortgage Financial Corporation to discuss your options for mortgage protection insurance.

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Mortgage Financial Corporation serves clients across HAMILTON, ANCASTER, DUNDAS, BURLINGTON, STONEY CREEK, WATERDOWN, GRIMSBY, and the surrounding areas.