Client Comments
Thank you so very much for putting so much effort and time for helping us.

-DARIO & MORCIA S., OAKVILLE

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We were so happy that you were able to provide us with construction financing. The draw amounts work fine with our builder and we plan to refer anyone building a house. Thanks again.

-TOM & SHAUNA D., TORONTO

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Hi Joe

Just wanted to pass on our thanks again for all your help with securing our mortgage.

In hindsight, we would have to say that the entire process of buying for the first time went really well and we managed to avoid a lot of the headache and inconvenience that others seem to come across.

Certainly in regard to arranging our mortgage, things could not have been easier for us and we have you to thank for that.

Your patience and attention to detail was greatly appreciated.

All the best,

. Aghazzarian & L. Marino

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Truly Professional

Joe helped us out with our financing and all the questions we asked. The rates and service was excellent and he even came to our house to sign all the papers.

We have recommend him to our co-workers, friends and family.

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Mortgage Needed In a Hurry!

We needed to arrange something quickly and Joe Walsh was able to provide us with a commitment on the same day;

I would definitely recommend Joe.

A Satisfied Customer!

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We supplied Joe Walsh with all of the pertinent information and we were able to sit back and relax while Joe took care of everything.

He examined all of the possibilities and came up with one that best suited our needs.

Joe took all of the shopping and confusion out of the experience and made it simple for us.

We have used Joe several times in the past and will continue to do so in the future.

He is knowledgeable, professional, there to service quickly & promptly without the stress that normally comes along with this sort of decision

Subprime Commercial Mortgage Challenges

“Getting Acceptable Pricing On A Subprime Commercial Mortgage Can Be Challenging”

commercial property financing
I have previously defined the sub prime commercial¬† mortgage space as an area of the market that is just below the qualifying requirements of “A” lenders.

One of the challenges of securing a sub prime mortgage is finding rates and terms that are acceptable to the borrower.

Borrowers that have this type of deal, have a hard time believing that they can secure an “A” mortgage rate, so they persist in earnest trying to get financing that is just not available to them.

When sub prime options are explored, and because there is always more demand than supply, lenders tend to try and charge more due to limited available funds.

So there can be quite a gap between the “A” rates that you can almost qualify for and the “B” rates that are available to you.

In most cases, a subprime mortgage is short term property financing facility that will provide the capital necessary to move forward and provide the time necessary to work into cheaper money.

So in the end, sub prime rates are never going to be optimal, but they do allow financing to take place.

The challenge is finding a subprime interest rate that is acceptable to you and can be “cash flowed” somehow until cheaper money can be made available.

But unlike most “A” lenders, subprime lending sources tend to work through brokers, which means that the access to them can be harder to come by.

Even if you end up working with a mortgage broker that works in this part of the market, there is certainly no guarantee that they can place your deal as there can be great divergence among the financing programs offered by the secondary market.

So selecting a broker to work with that has broad access to what we can also call the alternative commercial property mortgage market is going to be important.

Even more helpful still is being able to provide a solid and complete lending package to a broker for review so they can more quickly determine if they are in a position to provide financing assistance to you.

Precious time can be lost trying to understand the deal and putting in applications to lenders that are not highly relevant.

In the end, getting an acceptable subprime commercial mortgage rate is going to start with understanding the rate you can afford versus focusing on a certain rate range you feel justified in asking for. From there, its all about working with the right professionals that can not only lead you to subprime commercial money, but also to a deal structure that can work in your budget.

And focusing on sub prime options sooner than later will provide a greater probability of getting a reasonable rate versus spending a larger chunk of your available time pursuing an unlikely “A” credit solution, and then be left scrambling to try to secure a subprime commercial mortgage with time running out on your deal or requirements.

If you are exploring subprime commercial mortgage options, I would welcome the opportunity to go over your situation and see if we have any potential solutions for you.

Click Here To Speak With Toronto Mortgage Broker Joe Walsh For A Free Subprime Commercial Mortgage Assessment

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