Orangeville Commercial Mortgage
“We Provide Orangeville Commercial Mortgage Financing From Both Private And Institutional Mortgage Lenders”
Orangeville commercial mortgage financing starts with the type of property you want to finance and the use of the funds you’re after. For bank or institutional lenders, there is a significant focus on the cash flows generated by the property. If the property is self occupied, then the financial statements of the business will need to be provided for the last three completed fiscal periods. If the property has tenants, then a detailed rent roll will need to be made available with the application to not only show who is paying rent, but the related terms and ongoing occupancy commitment.
With commercial properties that area rented, institutional deals will be very particular as to the quality of the tenants as well as the length of the leases in place. For the cheaper commercial mortgage interest rates, its going to be important to have the core tenants under long term lease agreements with five plus years remaining. With self occupied situations, the financial statements are going to need to be able to show a cash flow coverage ratio of at least 1.25 times the total debt service for the borrowing entity.
For each type of property, commercial lenders will have varying degrees of interest depending on how weighted their portfolio is at any given time towards a certain industry segment. What this can mean is that at certain times it can be hard to determine what lenders will provide commercial property financing on specific properties, regardless of the financial strength of the underlying business or rent roll.
For private mortgage lenders, the actual market value and marketability of the property is going to take center stage in the lending decision along with the planned strategy to repay the loan at the end of the loan term, which in most cases is one or two years. That being said, there are private mortgage lenders that will provide Orangeville commercial property loans for longer period of time and even with amortized repayment schedules as compared to the more typical interest only payment requirements.
If you need an Orangeville commercial mortgage, or just want to better understand your options, please give me a call so I can go over your requirements with you and provide potential commercial mortgage solutions for your consideration.
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