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Do This One Thing to Save Big on Your Commercial Mortgage
When it comes to smart financial moves, some of the most brilliant personal finance ideas are just as effective for business. One of our favorites? Extra mortgage payments. Even just one extra payment applied to a commercial mortgage each year can make a substantial difference, shaving years of payments off the loan. This idea is familiar to homeowners, but it doesn’t occur to most business owners and CFO’s to... -
Is an Owner-Occupied Commercial Mortgage Different Than an Investment Mortgage?
Yes! Let me explain if you’re new to the whole business of commercial real estate… Walking into a bank to seek a commercial mortgage loan, the first question any borrower can expect is related to use of the property. “Will this be an owner-occupied or investment property?” -
What to expect when applying for your first commercial mortgage
Applying for a commercial mortgage can be thrilling and daunting. Moving from a lease to owning your office space is a major milestone that signifies the expectation of long-term stability of a business and validation of its financial success. It’s a big deal. To smooth the path for new borrowers, we’ve compiled a few tips on what to expect from conventional financing. Although some of the steps will be... -
10 ways to be a smarter commercial mortgage applicant
Commercial mortgages can be complex. When a business reaches a certain level of success, it’s natural to consider purchasing commercial office space, instead of leasing. Sure, a lease tenant isn’t responsible for maintenance or repairs and can deduct the entire amount of rent as a business expense on their taxes… but that business also doesn’t build equity, add to its portfolio of capital assets, or boost creditworthiness in quite...
