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Introduction to Commercial Mortgage Lending

The purpose of a commercial mortgage loan is to finance or develop a commercial property/business. A mortgage lender will provide you with the necessary funds to complete the transaction. You will then need to pay off the loan, along with the interest which amounts to the price of the service. In addition, the business/property can be taken as collateral during the life of the loan.

 

There are several different types of mortgage lenders which will offer you their services: commercial banks, mortgage companies and credit unions are the three major ones. Each of these institutions will offer you a variety of loan options, and all might quote you different prices. It is advisable to contact several different lenders in order to find the most favorable and convenient rate/loan type.

 

This guide exists to answer some basic questions and hopefully make the commercial lending process a little less confusing. Inside you will find information about the mortgage process, different mortgage loan options, pricing, choosing a broker and much more!

 
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