Commercial lending
Everything you need to know
Financing for a commercial property is entirely different than financing for a residential property. To a large degree, it is a different set of lenders and a different set of lending criteria. If you have been investing primarily in residential real estate, and are looking to move into the realm of commercial real estate, you will definitely need some help navigating the new waters.
Even if you are a seasoned pro with commercial property, it is hugely beneficial to make use of a commercial mortgage broker. As the year progresses, a lender’s portfolio and tolerance for certain asset classes changes. For example, your bank might have been able to finance your development project at the beginning of the year, but later in the year, their portfolio for that asset class might be full, and they would have to turn you away.
Why commercial lending
A commercial mortgage broker can correctly structure the loan request for a particular lender, know which lenders to approach at any given time, and shop the market for a client. It is extremely time-consuming. What is your time worth? Far better to use a commercial mortgage broker as a resource and extension of your team, and concentrate on what you do best.
Kyle Green recognizes that commercial financing is a whole different “beast”, and unless you are active in it full time, it is impossible to know which lenders are financing what types of commercial property at any given time, and which lenders have the best rates/terms for any particular asset class.
» Construction Loans
Looking at building your dream home? Construction loans are very different from regular mortgages and require solid advice to make sure this is set up in a way to ensure you have enough cash to finish the project. We have dealt with many individuals who ran out of money during their build and came to us when their bank told them they couldn’t fund them. With the right product to begin with, they would have had a much smoother process.
Did you know...
Homeownership is the single largest source of savings for Canadian households
Your payments build equity (as opposed to renting, where your money goes to the building owner)
Homeowners can use the equity in their homes as security for other loans
Additional Videos
Construction Financing
Calculating The Cap Rate
The Multiplyer Effect
How to Get CMHC Financing for Multi-Family Buildings
Here are the main reasons to work with Mortgage Brokers & The Green Mortgage Team
Mortgage Brokers work for you, for free. Brokers are paid a “finder’s fee” by the lender. Can you think of another business in which you have a professional that works 100% for you for free?
We work with over 60 different lenders, many of which are major banks.
No more negotiating. Brokers are offered lenders’ top discounted rates automatically, so you get the best rate right away when working with a Broker.
Brokers are unbiased. We care about getting you a mortgage that works best for you! Do you think your bank will tell you that their competitor across the street has a better rate than they do?
Brokers only pull your credit once. If you were to shop 60 different lenders on your own, on top of the time spent, it would also negatively impact on your credit rating. Although a few inquiries are okay, having multiple inquiries over a short period of time can have a large negative impact on your credit rating. We only need to pull your score once!
We answer our phones. We understand how important your home purchase is to you, and make sure that we make themselves available even after regular business hours. We’re here for you!
Did you know...
Unlike other investments that can be volatile, when you buy a home the increase in its value is relatively steady. The average price of a house for sale on the Canadian real estate market has increased every year since 1998
The return on investment for a house can be substantial. In Canada there has not been a recorded 10 year period where average house prices have not increased
Buying a home and building equity is the first step on the property ladder. It gets you into the housing market, keeps you in touch with increasing home prices, and puts you in a good position to trade up to bigger and better homes as your circumstances allow
Get your Commercial Lending Guide below
Contact Us
604-229-5515
2608 Granville Street #550,
Vancouver, BC V6H 3V3