Commercial mortgage

In a commercial mortgage, the mortgaged property is an income-producing commercial building rather than a residence. Commercial mortgages are usually much larger than residential mortgages. Lenders secure these loans with mortgages registered on title against multi-unit residential buildings, retail plazas, shopping centres, office and industrial buildings. Lenders review the commercial property’s appraised value and monthly income generation to determine how much the owner, often a business or corporation, may be approved for.