Burlington Commercial Property Loan
“Burlington Commercial Property Loans and Mortgage Financing Available From Both Bank and Private Lending Sources”
Burlington commercial property loans can apply to a wide range of real estate properties including but not limited to multi family units, strip malls, condo developments, townhouse developments, warehouse, self storage, mixed use properties, income property financing, office buildings, and land acquisition to name the main categories.
Because of the diverse types of commercial real estate on the market, lenders tend to be very specialized in terms of what kinds of properties they are prepared to look at as well as borrower profile.
Similar to residential mortgage financing commercial loans can be secured for new property acquisition, debt consolidation, refinancing, and development or construction. But unlike residential, commercial property loans tend to have a larger number of conditions and financing requirements and typically take longer to secure.
It also can be difficult to determine quickly which self proclaimed commercial property lenders are going to be interested in your particular deal without too much time and energy being invested in their application process.
This is why it makes good sense to work with a Burlington commercial mortgage broker who maintains an ongoing understanding of whose lending in your area for specific property types and who is not at any given point of time.
And while knowing who’s lending is important, what’s even more important is putting together a proper information package to help the lender make a decision in your favor.
A lot of commercial property loans are treated more like business loans by both banks and private mortgage lenders in that there is as much or more interest in the health and financial strength of the underlying business requesting financing than the property itself. There is no question that the property information is always going to be front and center in any commercial mortgage loan assessment (appraisal, environmental liability, zoning, condition, etc.), but the other business elements that contribute to the ability of the borrowing entity to repay the debt get a lot more attention than under a residential mortgage application scenario.
If you need a Burlington commercial property mortgage for a new property or an existing on, I suggest that you give me a call so we can discuss your requirements and go over relevant commercial mortgage financing options together.
Click Here To Speak With Commercial Mortgage Broker Joe Walsh.
About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel