Answers to today's top questions through blogs and articles

Tag: Types of mortgages

commercial mortgage

What is a Commercial Mortgage?

 

Most people are familiar with the process used to gain a residential mortgage for the purposes of purchasing a home, which seemingly never-ending monetary obligation the homeowner must make until that loan is paid in full.  Perhaps you remember your parents, or a relative, celebrating the payment in full of that loan by having a “mortgage burning celebration”.

Procuring a loan for the purpose of purchasing a building, maybe to be used as a family business, or a retail store, can be a rather arduous process.  You must have all your finances and paperwork in order before you even attempt to begin that venture.  Is this a daunting task?  Well, you could make it easier on yourself if you secure the help of an expert who specializes in loans for retail construction.  Such an expert would be instrumental in paving the way for a potential future business owner to achieve a commercial loan with minimal obstacles to that ultimate goal.