Commercial Mortgages in Toronto.
Commercial Mortgages in Toronto allow us to facilitate institutional and private mortgage capital, bringing great value to clients seeking a commercial mortgage.
Typical mortgage amounts range from $250,000 – $25,000,000 however we can arrange more or less depending on your needs and circumstances.
We assist clients with low rate mortgage approvals for property located in major urban centers, and also property located in secondary or rural locations.
Commercial mortgages are registered in either first, second, or third position on title of the subject property and may be registered against additional real-estate security to achieve a higher loan amount provided the average loan-to-value decreases and/or the aggregate equity increases.
For example, a $1M mortgage on a value of $1.1M would not provide a lender with sufficient equity, however, say the client owns an additional property worth $1M with a mortgage owing of only $100K, by taking this additional collateral, the equity cushion has increased from $100K to $1M. The standalone loan to value of 91% has now turned to 52%. Bingo!
Do not be discouraged if you cannot obtain traditional financing, we have access to an abundance of commercial mortgage funds available to assist you with your purchase, refinance, improvements, or construction even if your credit profile or project does not conform to bank guidelines.
We believe that collecting as much information and supporting documentation at the onset will lead to a much more efficient and expedited review process. Furthermore, it will allow us to address any potential road bumps at the onset.
We have commercial mortgage lenders that can fund transactions in as little as 48-72 business hours provided conditions are satisfied. Similarly, we have had success funding equity takeouts in as little as one week.
An overview of Commercial property-types that we can finance:
- Purpose-Built Property
- Commercial Units and also Commercial Buildings
- Condominium Construction
- Retirement and also Nursing Home Facilities
- Automotive Dealership
- Recreational Resort
- Recreational-Vehicle Parks
- Private Schools
- Condominium Conversion Project
- Commercial Plaza
- Places of Worship
- Gas Station
- Hotel and also Motel
- Banquet Hall
- Office Building
- Storage Facilities
- Shopping Mall
- Industrial Units and also Industrial Buildings
- Golf Course
- Commercial and also Industrial Zoned Land
Typical documents required for a Commercial Mortgage:
- Mortgage Application
- Credit Report
- MLS + Purchase & Sale Agreement *Purchase*
- Environmental Report
- Building Condition Report
- Financial Statements
- Lease Agreements
- Income & Expense Statement
- Existing Mortgage Statements *Refinance*
- Articles of Incorporation or Master Business License
- 6-12 Months Bank Statements
There are cases where very few documents and conditions are required, so don’t fret. The documents that you’ll need to provide might be much less than the documents listed above. We’ll help you understand which documents to provide and also why they are required.
In addition, we are able to provide you with flexible financing that may not be available at your bank.
In fact, there are cases where you may be provided simply based on sufficient equity.
We represent our client’s financing requirements with agility and also resiliency.
Contact us anytime for a no-obligation assessment and also to learn more about Commercial Mortgages in Toronto.
-DV Capital Corporation #13186