As one of Canada’s largest commercial mortgage lenders; Sunlite Mortgage is a market leader in providing real estate financing solutions for industrial, retail, office and apartment properties.
What is a Commercial Mortgage?
The commercial mortgage is suitable for businesses and investors who want to start their activity in commercial properties. Most noteworthy to acquire, refinance, or redevelop commercial property. Consequently, evaluating credit history is more complicated with a commercial mortgage. You can also expect rates to be significantly higher than residential rates due to the increased risk. Therefore, general aspects to consider when applying for a commercial mortgage are:
- The loan amount
- Prepayment flexibility
- Interest rates
- Term and amortization schedule.
Sunlite Commercial Mortgage program is made to meet the needs of the borrower, as a result offers competitive mortgage options for both variable and fixed rates.
For small business the commercial mortgage can cover up to $1 million. While a large commercial investment mortgage can be financed from $1 million up to $75 million; on income-generating or owner-occupied commercial properties in major urban areas throughout Canada.