About Commercial Mortgage

Do you want to go for large scale or small scale business? We are here to help with the best commercial mortgage that will fit right into your plans. Getting a commercial mortgage that fit into your plans can be intimidating, be it buying a business property or refinancing existing asset. It requires a lot of time and handwork.

What Is Commercial Mortgage?

  1. Business mortgage offers better interest rate than regular business loans
  2. No fixed rate for commercial mortgage compared to a regular business loan

Frequently Asked Question

How much should you put down for commercial mortgage?
20-30% of the real estate cost should be paid down for commercial mortgage, but for small business organization, 10%is required of the property’s price.
How do you go about getting your first commercial mortgage?
1. Know your motives for investing. 2. Check and analyze different commercial property types. 3. Lock down your financing. 4. Get the right team and build them for the job. 5. Identify a potential property in your market. 6. The number of property should be run 7. Make your offer and get the deal closed
How do I qualify for a commercial mortgage?
You must have at least a good credit score, because commercial banks are mostly involved in commercial mortgage, your credit score should be about 680, though 700-800 points are more preferable. You don’t need to panic if your credit score is lower than 680.
Can I live on commercial property?
Yes you can once it is legal to live in it.

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    Asked Question Types

    • A self owned mortgage which is used to buy self own trading business premises or property
    • Commercial investment mortgage is used to buy property you are planning to rent out

     

    To be Eligible for a commercial mortgage, Some Eligibility checks has to be passed:

    • Income to be used for the business project
    • Whether you are able to pay the deposit which can range from 20%-40% of the loan
    • General income, credit and assets
    • Cash flow or debt owed to assess the financial stability of your company

    Don’t hesitate to contact us, if you are looking to invest in commercial properties, or owning business, premises, we will help you through the process.

    Some Advantages

    • As the property increases in value, capital also increases
    • There’s a control of ownership
    • Cash flow improves
    • There will be tax breaks benefit that is interest paid is tax deductible
    • When the property depreciates, it reduces tax
    • The property can be rented out for generation of extra income

    Fees Involved

    • Broker fees: the agent involves connects you and the lender together which definitely involves agency fees
    • Legal fees: you pay both the lender and your own legal fees
    • Arrangement fees: this is the fee required to cover the whole process that involves the commercial mortgage loan
    • A fee is also paid to the a supervisor who comes to check the property and report back to the lender

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