Working with an independent mortgage advisor like Boychuk Mortgage Group offers numerous advantages. Our independence means we're not tied to…
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What types of commercial properties can be financed with a commercial mortgage?
Commercial mortgages can finance various properties, including office buildings, retail centres, industrial warehouses, multi-family residential properties (5+ units), and mixed-use…
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How do lenders evaluate the eligibility for a commercial mortgage?
Lenders assess multiple factors, including the property’s income potential, location, condition, borrower’s creditworthiness, business financials, and the Debt Coverage Ratio…
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What are the typical terms and repayment options for commercial mortgages?
Commercial mortgages typically have terms ranging from 5 to 25 years with amortisation periods of up to 30 years. Repayment…
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What documents are required to apply for a commercial mortgage?
Documentation requirements may vary but generally include property financial statements, business financial statements, tax returns, lease agreements, property appraisal reports,…
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What are the costs associated with obtaining a commercial mortgage?
Depending on the terms of the mortgage agreement, costs may include appraisal fees, legal fees, loan origination fees, and possibly…