Commercial Mortgages for all kinds of Multi Family Properties including:
Mixed Use Commercial buildings
Residential Multi Family properties
Out of Town Multi Family Properties
GETTING A MORTGAGE TO PURCHASE A MULTI FAMILY PROPERTY
Purchasing a Multi Family property can be a great investment and often it is easier to get a commercial mortgage for a multi family then any other kind of commercial properties if you talk to the right mortgage lenders. The main reasons behind this is that residential units are usually in demand and they can generate a steady income for the owner. Find out for which lenders may be interested in providing you with a mortgage for your next purchase of a multi family property.
MULTI FAMILY MORTGAGE RATES
With access to over 50 Lenders for Commercial Mortgages Find out what could be the lowest commercial rates* available in Canada for your commercial mortgage to purchases Multi Family property
How much do your really need as down-payment for a Multi Family property mortgage?
What to look for when Purchasing a Multi Family Property? – If you are looking to purchase and getting a mortgage for a multi family property keep in mind the following and it will become an easier process to get a mortgage.
Location of the multi family property – The location of the property is very important. Many lenders will not offer you a mortgage to purchase a multi family property if the property is located in a small town or too far from the GTA. You will still have options in getting a commercial mortgage for a multi family property even outside the GTA but there will be less lenders then if you were buying the multi family property in Toronto or in a large urban center
Size of the Multi Family Property – size does makes a difference! Especially if you are getting a multi family property with less then 4 units since you will have access to different mortgage programs.
Income of the Multi Family property – Net Income (total revenue – total expenses) is a key factor to get a mortgage for a multi family property so carefully review the income and expenses of the property before making an offer
Do a careful due diligence on the multi family property before applying for a mortgage – do your due diligence when purchasing a multi property since the lender will appreciate the fact that you have done your homework and they will have more confidence in your and in the multi family property that you are purchasing.
Feel free to send us few more details if you are looking to get a mortgage to purchase a multi family property and we will be happy to answer any questions that you may have. Click here to send few more details Mortgage to purchase a Multi Family property
of if you are looking for a multi unit property to purchase – check out our real estate web site which specializes in multi unit properties