Basic Information About Commercial
Mortgage Loans.
What is a Commercial Mortgage Loan?
The use of a commercial or business real estate as a collateral is normally used when
applying for a commercial mortgage loan.
The only difference between residential...
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Basic Information About Commercial
Mortgage Loans.
What is a Commercial Mortgage Loan?
The use of a commercial or business real estate as a collateral is normally used when
applying for a commercial mortgage loan.
The only difference between residential
mortgage and commercial mortgage is in the type of collateral used to secure repayment.
Residential property is normally used as collateral to secure repayment for a residential
mortgage but a commercial mortgage can only be made when a borrower has a business
real estate or a commercial building to be used as collateral.
Individual borrowers are not allowed to apply for
commercial mortgage loans because this type of
mortgage is only given to businesses.
The business
can be a limited liability corporation, incorporated
business, or a partnership.
The loan is only given
after the creditworthiness of a business has been
assessed.
It is easy to assess the creditworthiness of
individual borrowers compared to a business.
In some inst
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