What Is a Commercial Mortgage?

A commercial mortgage is capital loaned for business real estate purposes – hence, it’s also known as a commercial real estate loan. Whether you’re purchasing a property for business operations, expanding on current properties, buying a building to lease as part of your business, improving an existing structure, or refinancing your business property to preserve working capital, a commercial mortgage can be extremely helpful.

Well that was straightforward. What happened to your usual sarcastic, ADHD, off-the-wall attitude?

Honestly, we outgrew that kind of nonsense. Please direct your focus to the material at hand.

Oh, alright then. What else should I know about commercial mortgages?

We offer commercial mortgage loans from $250,000 to $5,000,000 with loan terms of 20-25 years, depending on the loan terms you qualify for. The payments are always monthly and have some of the best interest rates available, ranging from 4.25-6%. The time to fund averages between 45 and 90 days. This is a bit longer than some of our other loans, mostly due to the size and type of loan required for a mortgage.

Listen, I appreciate the information, but this is getting weird. Can you tell a joke or make a ridiculous analogy or something?

We can’t. However, instead we can tell you some of the pros and cons of a commercial mortgage.

Benefits:

  • You’ll begin earning equity immediately
  • Commercial mortgages offer the lowest interest rates of all loans
  • You’ll have a secure piece of collateral

 

Drawbacks:

  • The application can be relatively time consuming
  • The loan is paperwork intensive
  • You may be required to present plans for building a structure or starting a business project

 

Come on, this is so uncomfortable. Can’t you crack one joke? Just for me?

We’re sorry. We physically can’t. Our writers have been replaced by machines.

Beep.

Oh, thank goodness!

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