Commercial mortgages are used to finance the purchase of commercial properties such as mixed-use buildings, office towers, student housing, retirement and nursing homes, shopping centers, standalone retail stores, manufacturing facilities, warehouses, hotels, and resorts, among others.

Compared to construction loans, commercial mortgages generally offer lower interest rates due to the reduced risk, with the purchased property itself serving as collateral. However, depending on the type and nature of the property, lenders may require additional guarantees or collateral from the business owner.

Commercial mortgages can be structured as either short- or long-term loans, with options for fixed or variable interest rates. The approval process involves evaluating the business’s credit history, and often includes a review of the business owner’s personal credit as well. Loan terms and rates are largely influenced by the financial health of the business and the income-generating potential of the property.

Unlike residential mortgages, commercial mortgages are more complex and require extensive documentation, including a detailed business plan. At Krimson Mortgages, we simplify this process by working closely with you to prepare all necessary documents and present your application in the strongest possible light. Our experienced team will also provide multiple lending options tailored to fit your financial goals and strengthen your balance sheet.