Business Finance Resource is your leading resource for information on Commercial Mortgages. Learn about various service options and special considerations for your specific business’ needs. Get free competitive rate quotes from premier service providers via our secure request for quotes service.
Commercial mortgages helps you secure funding to purchase commercial property such as offices, apartment complexes, strip malls, hospitals, schools, parking lots, and restaurants. Most businesses use commercial mortgages to fund land for new construction or an existing property purchase. Others pursue commercial mortgages as investment property – they buy large office buildings and rent the available space to other businesses.
Learn how to determine if your credit is strong enough to get a commercial mortgage and whether or not you can afford it.
With so many different mortgage options, you’ll be able to pinpoint the one that will work best for your business (and your budget!)
If you believe you’ll understand how commercial mortgages work because you’ve bought residential property in the past, think again! Commercial mortgages are different animals from residential mortgages. Yes, there are a few similarities such as making a down payment and regular monthly installments until it’s paid in full, but that’s about it. But to secure a commercial mortgage, you need much more money, business experience, and documentation than you would for a residential mortgage.
In addition, commercial mortgage shoppers must have a building in mind that they want to purchase before they can approach commercial mortgage lenders. The vendors who work with Business Finance Resource can’t help you finance a mortgage if you haven’t yet located property.
Also, certain businesses are almost impossible to get commercial mortgages for. The prime examples are gas stations (because of the various restrictions and dangers surrounding gas lines) and new restaurants in unproven areas (hard to justify that such a business can succeed in the long run.) If you are trying to fund riskier property, you may find it difficult to secure a commercial mortgage.
Finally, make sure you need commercial mortgages for a minimum of a half million dollars. Otherwise, you may be looking at considerably higher fees assuming you can even get funding for smaller mortgages.
Why should I use Business Finance Resource?
It’s important to keep in mind the various pros and cons of commercial mortgages. You also need to understand the step-by-step process to securing a commercial mortgage. Business Finance Resource will provide you with information for these, and several other subjects, so you can make an informed purchasing decision.
When you’re ready to start meeting with lenders about your commercial mortgage, simply submit a free request for quoteand dealers will contact you directly!
Then you can choose to speak with one of our Purchasing Advisors who can walk you through the process and handle any issues or questions that arise. Our Advisors provide these services and more:
Remember: The advice and information on Business Finance Resource is vendor-neutral, unbiased, and completely cost-free!