Why Should You Get a Commercial Mortgage in Ontario?
Getting the right mortgage with ideal terms and commercial mortgage rates in Ontario can be hard. However, with Freedom Capital by your side, your commercial mortgage needs can be met with ease.
Recommended Private Commercial Mortgage Lenders in Ontario
Commercial mortgages in Ontario often have higher interest rates with a shorter loan term, resulting in considerably high monthly payments. This can make them more expensive than other mortgages.
A commercial mortgage has certain resemblances to a residential mortgage, such as capital, interest, and repayments that are made on a monthly basis. Commercial mortgages differ from residential mortgages in that the loan-to-value ratio is typically lower. They have a higher interest rate and are generally repaid over a period of 20 years or more.
The interest you pay on your commercial mortgage is deductible. This implies that the interest payments you make on your mortgage over the course of a year might be deducted from the tax your company owes.