A commercial mortgage is a loan taken out on commercial real estate (as opposed to residential) with the property as collateral. The borrower is generally a company or business as opposed to an individual and the business may be either a partnership, limited company or incorporated. Consequently, assessing credit history is more complicated with this type of mortgage. You can also expect commercial mortgage rates to be significantly higher than residential rates due to the increased risk. For more information about our process kindly visit http://www.mortgagelowestrate.ca/mortgage-renewal.html
