A specialist broker can help you identify which lender is appropriate for your needs and circumstances. A borrower with a strong credit history is more likely to be approved for a commercial mortgage, however there are some lenders who are flexible on adverse credit. The value of the collateral will affect the amount of the loan that the lender is willing to provide.īorrower's creditworthiness: Lenders will evaluate the borrower's credit score and credit history to determine the likelihood of repayment. The loan term can range from a few years to several, depending on the lender and the borrower's needs.Ĭollateral: Commercial mortgages are secured by collateral, often called the “security property”, it is usually the property being purchased or refinanced. Loan term: This is the length of time that the borrower has to repay the loan. The interest rate is typically based on market conditions, the borrower's creditworthiness, and the loan term. Interest rate: This is the rate at which the lender will charge interest on the loan. Lenders will consider the value of the property and the borrower's ability to repay the loan when determining the loan amount. Loan amount: This is the amount of money that the borrower is seeking to borrow. Here are some of the key factors that lenders consider when calculating commercial mortgages:
Commercial mortgages are calculated based on several factors, including the amount of the loan, the interest rate, the term of the loan, and the borrower's creditworthiness.
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