Frequently Asked Questions
A commercial mortgage is specifically designed for commercial properties, whereas residential mortgages are for homes.
You can use a commercial mortgage to finance various properties, including office buildings, warehouses, retail spaces, and more.
Repayment terms vary but are often longer than residential mortgages, typically ranging from 10 to 25 years.
Yes, commercial mortgages can be used to refinance existing properties, providing the opportunity to secure more favorable terms.
Yes, a down payment is usually required, and the exact amount can vary based on the lender and the property.
Interest rates can be influenced by factors like credit history, the property’s location, and the overall financial health of your business.