Niagara Falls Commercial Property Loan
“Niagara Falls Commercial Mortgage Financing For Single and Multi Use Properties”
Niagara commercial mortgages can be arranged for industrial, mixed use, multi residential over 5 units, commercial, and rental property types.
Properties like multi residential, rental, retirement homes, and licensed care facilities can qualify for an insured mortgage under the Canada Mortgage and Housing Corporation (CMHC) programs. Maximum loan to value on these types of properties from institutional lenders can only be realized through an insured mortgage program.
Bank or institutional lenders will typically require an AACI appraisal, a recently completed environmental report, and the last three years of historical financial statements along with a rent roll if the property is rented out.
Commercial mortgages through private mortgage lenders are becoming more common in active market areas where borrowers may not have the time or the ability to fully qualify for institutional mortgage rates.
The major challenge with locating and securing a Niagara commercial mortgage for any given project is lining up with the right lender and commercial property financing program that best suits your requirements at a given point in time.
This task is easier said than done for a number of reasons. First, commercial mortgage lenders all tend to have their own areas of interest with respect to commercial property with certain properties getting more serious consideration than others. This can be difficult to impossible to tell when looking in from the street at virtually any mortgage lender.
Second, the commercial mortgage portfolio of any given lender is constantly changing causing lenders to continually change their interest levels in different properties in order to maintain the balance they seek in their portfolio across property types.
Third, the detailed commercial mortgage requirements for certain programs may not be apparent until after considerable time and cost have been expended in the application process.
These are just some of the reasons why it makes sense to work with an experienced commercial broker that has the market knowledge, lender relationships, and mortgage expertise to get you working with the most relevant lenders sooner than later.
If you require a Niagara Falls commercial mortgage, please give me a call so we can discuss your requirements as well as potential commercial property financing solutions that will fit with what you’re trying to accomplish. Regardless if your need is for purchase financing, mortgage refinance, debt consolidation, or construction, I recommend you give me a call.
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