Commercial Buyers – Advice from Our BC Mortgage Brokers
Securing the right commercial mortgage for your needs will require you to find a lender suitable for your building, related location and property type. Our Vancouver mortgage brokers can help you achieve this no matter what kind of commercial property you are looking to invest in – from purchasing an additional location for your existing business to your first restaurant, our experts have the know-how to give you the services to connect you with the lenders that you need.
Zoning variances can be used to provide equitable relief by allowing you to use your commercial land to bypass local zoning laws. These variances are typically granted for unusual circumstances or characteristics of the property that you are buying that make it difficult or impossible to comply with zoning laws.
Purchasing a commercial property can be a complex ordeal and on top of hiring a reliable mortgage broker, you’re also going to need an accountant, lawyer and commercial realtor on your team. Once you’ve put together your team, you’re going to need to do the following:
Consider the condition of the property
Ensure its accessibility to clients and suppliers
Check zoning laws
Compare loan terms and mortgage rates
Thorough consideration of the above terms is essential in order to ensure that your application is approved and you can successfully purchase your commercial property.
Canada Mortgage and Housing Corporation (CHMC) Insured Deals
On commercially zoned residential apartment buildings CHMC mortgage loan insurance is available and many times is well worth paying for as it will give you access to the best and lower commercial mortgage lending rates than uninsured mortgages, and this premium stays attached to your mortgage so you will continue to reap the benefit on preferential rates term after term.
Our Vancouver mortgage specialists can help you successfully purchase the commercial property that you desire and through exceptional service and a wide range of lender connections. For more information about the best mortgage rates available, or for further questions, contact us at the numbers listed above.
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