Commercial Refinance
The term commercial property refers to real estate that is used to generate income. Commercial properties include retail spaces, such as stores, malls, and plazas, as well as industrial properties. Residential buildings are also categorized as commercial properties.
Property owners can benefit from refinancing their commercial properties in several ways.
They can reduce their monthly payments by refinancing with a lower rate and better terms.
The available equity can be used to renovate the property or to purchase additional properties to increase your portfolio.
A refinance of a commercial property is also an excellent way of consolidating debt.
If you plan to refinance a commercial property, it is always a good idea to do your homework and understand the pros and cons.
Pros of commercial refinancing include:
Cons of commercial refinancing include:
Consolidating debts is a great reason to refinance
Consolidating debts is easy and it can help you save a lot of money going toward credit card interest or interest from a bank loan. When you refinance your commercial property, you can pay off all your existing debts such as company credit cards and carry a single loan in the form of a commercial refinance mortgage. Converting multiple debts into a single low-interest commercial mortgage is the smart thing to do. It is a lot easier to manage a single loan payment when the end of the month rolls around, instead of having to juggle multiple payments.
Taking out equity
Another good reason to refinance your commercial property is to get the equity taken out of it.
If your commercial real estate property is somewhat paid off or fully paid off, you can get the cash that you have paid off back into your pocket up to the current value of your property.
It is tax-free cash that you can use for whatever reason you desire.
Our mortgage agents will help you refinance your commercial property in no time and with better terms and lower interest rates. Whether you would like to refinance or get a 2nd mortgage for your property, we will discuss all your options so you make a choice that benefits your lifestyle.
Examples of commercial properties we have refinanced are:
If you're denied for any reason, don't hesitate to reach out - we'll work with you and come up with the right plan in 48 hours!
Property owners can benefit from refinancing their commercial properties in several ways.
They can reduce their monthly payments by refinancing with a lower rate and better terms.
The available equity can be used to renovate the property or to purchase additional properties to increase your portfolio.
A refinance of a commercial property is also an excellent way of consolidating debt.
If you plan to refinance a commercial property, it is always a good idea to do your homework and understand the pros and cons.
Pros of commercial refinancing include:
- More favourable loan terms
- Lowered interest rates
- Lowered monthly payments
- Tax-free borrowing
Cons of commercial refinancing include:
- In some cases, higher upfront costs
- Not all commercial properties qualify for refinancing
- A prepayment penalty may be charged by your current lender when you refinance
Consolidating debts is a great reason to refinance
Consolidating debts is easy and it can help you save a lot of money going toward credit card interest or interest from a bank loan. When you refinance your commercial property, you can pay off all your existing debts such as company credit cards and carry a single loan in the form of a commercial refinance mortgage. Converting multiple debts into a single low-interest commercial mortgage is the smart thing to do. It is a lot easier to manage a single loan payment when the end of the month rolls around, instead of having to juggle multiple payments.
Taking out equity
Another good reason to refinance your commercial property is to get the equity taken out of it.
If your commercial real estate property is somewhat paid off or fully paid off, you can get the cash that you have paid off back into your pocket up to the current value of your property.
It is tax-free cash that you can use for whatever reason you desire.
Our mortgage agents will help you refinance your commercial property in no time and with better terms and lower interest rates. Whether you would like to refinance or get a 2nd mortgage for your property, we will discuss all your options so you make a choice that benefits your lifestyle.
Examples of commercial properties we have refinanced are:
- Residential Apartment Buildings Refinance
- Retail Plaza Refinance
- Retail Mall Refinance
- Hotel and Motel Refinance
- Restaurant Refinance
- Farmland Refinance
- Gas Station Refinance
- and much much more
If you're denied for any reason, don't hesitate to reach out - we'll work with you and come up with the right plan in 48 hours!