Aug
Have you ever thought of buying a property from which you can run your business? Have you signed a lease where you are paying the hydro, maintenance and property taxes? Have you ever asked yourself if there is a better way?
Like most business owners you may assume that a bank is the only place to go when you want to get a commercial mortgage. By using the services of a mortgage professional you have access not only to the traditional lenders but also lenders that specialize in commercial mortgages.
The main differences between the traditional lenders and the non-conforming lenders are that the non-conforming lenders:
- do not require income verification,
- require a lower down-payment, and
- are more flexible on the type of property.
Their rates are slightly higher than traditional sources; however compared to paying a lease it may be worth your while to investigate this option.
