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The market for Commercial Mortgages is going through some dramatic changes in Canada. The industry is moving towards an alternative to the traditional "balance sheet" lending of banks. With private lenders entering the Canadian market more options exist for "B" and "C" borrowers.
Typically, the larger lenders will only begin to look at Commercial Mortgages in excess of $2 million therefore there is a shortage of funds for smaller commercial mortgages but this trend is changing.
The pricing of commercial mortgages rates and fess is as varied as the lenders in the industry. And given that each property and borrower is also unique, it is impossible to quote rates and fees without understanding all facets of your property and your needs.
Because we have available more "equity type" lenders we have less complex requirements than the banks and access to a number of private lenders.
We offer professional service and fast response time.
Smaller Mortgages - $100,000.00 and up
Multi use buildings i.e.; retail & apartment mix
Owner Occupied Businesses
Raw Land
Land that is to be developed for Commercial use
Smaller centers not normally serviced by the banks
High advances - up to 80% LVT with up to 90% financing in the case of a
vendor take back 2nd mortgage
Funding of a wide variety of commercial properties including but not limited to;
Hotels & Motels
Restaurants
Self Storage
Bed & Breakfast
Funeral Homes
Rooming Houses
Automotive Shops including Car Wash Bays but "no" Gas Stations
If you are I need of a commercial mortgage let us be your guide and work with you to get what you need. Call one of our Commercial Mortgage specialists today; you'll be glad you did.
For more information please contact our Commercial Mortgage Professional;
Don Coad at (403) 245-3636 for fast, professional service.
Jencor Mortgage Corporation - Helping you build for tomorrow.