Commercial Mortgage
Trusted Commercial Mortgage in BC for Businesses & Investors
If you are looking for a commercial mortgage in BC, you have come to the right place. We are Asim Ali, and we are experts in getting great deals for business owners and investors just like you. Let us handle the hard parts of financing, so you can get your property sooner.
Eligibility Criteria for a Commercial Mortgage in BC
To qualify for commercial loans in BC, you, as the borrower, will go through an assessment. Here’s a checklist of what is required:
Down Payment
Lenders ask for a larger down payment for business spaces. This can range from 20% to 35%.
Detailed Business Plan
You need a business plan that shows every detail: projected income, expenses, and market analysis.
Personal and Business Credit History
Lenders will examine every personal and business credit history.
Professional Property Appraisal
You need an independent appraisal so the property’s fair market value is clear.
Property Type and Condition
The type of property (retail, industrial, office) and its physical condition.
Debt Service Coverage Ratio
Lenders want a DSCR above 1.0 (typically 1.25 or higher).
Down Payment
Lenders ask for a larger down payment for business spaces. This can range from 20% to 35%.
Detailed Business Plan
You need a business plan that shows every detail: projected income, expenses, and market analysis.
Personal and Business Credit History
Lenders will examine every personal and business credit history.
Professional Property Appraisal
You need an independent appraisal so the property’s fair market value is clear.
Property Type and Condition
The type of property (retail, industrial, office) and its physical condition.
Debt Service Coverage Ratio
Lenders want a DSCR above 1.0 (typically 1.25 or higher).
Comprehensive Mortgage Services We Offer
Mortgage Pre-Approval
A pre-approval shows you how much you can afford precisely before you start looking for a property or commercial property mortgage. This shows the sellers and real estate agents that you are a serious buyer.
Mortgage Refinancing
We can help you access the built-up value (equity) in your property. This can provide funds to pay off higher-interest debt, finance renovations, or invest in another opportunity.
Mortgage Renewals
When your loan term is ending, your lender will send you a renewal offer. Don’t just sign it. Your bank’s first offer is rarely the best one. We will shop the market for you to find the best rates and terms available.
First-Time Home Buyers
Buying your first home is exciting. We guide you in a way that this process feels easy at every step. We’ll help you understand down payments and the paperwork.
Investment Properties
We help you finance both residential and commercial investment properties. Get the most competitive rates and flexible terms.
Commercial Mortgage Rates
Variable interest rates for commercial mortgages in BC could range from approximately 4% to 8% or more. These rates may be based on a benchmark such as the Bank of Canada’s prime rate and can fluctuate over the term of the loan.
Fixed-rate commercial mortgages provide stability in interest payments. Fixed interest rates for commercial mortgages in BC might have ranged from around 4.5% to 7.5% or higher, depending on the loan term (e.g., 5 years, 10 years, etc.).
If you are eligible for Canada Mortgage and Housing Corporation (CMHC) insurance on your commercial mortgage, you may be able to secure more favorable interest rates. CMHC offers insurance on commercial mortgages to reduce the lender’s risk, potentially leading to lower rates.
Your personal and business credit history, as well as the perceived risk associated with the property and your ability to repay the loan, can have a significant impact on the interest rate you are offered. Borrowers with strong credit and a low-risk profile may qualify for lower rates.
The type of commercial property you are financing can affect the interest rate. Some lenders may consider certain property types riskier than others and charge higher rates accordingly.
Longer loan terms may come with slightly higher interest rates compared to shorter terms. However, longer terms provide stability in interest payments for a more extended period.
Different lenders may have varying policies and risk appetites, which can result in different interest rate offers for the same borrower and property.
Why Trust Asim Ali for Your Commercial Mortgage?
Buying or refinancing business property is a major financial decision. You need a guide you can trust. As an award-winning team, we are specialists in securing commercial mortgages in BC.
We go beyond simply finding a rate. Here’s why we stand out:
Proven Experience with Deals Like Yours
We have a successful track record of financing properties across British Columbia. We know the challenges and how to overcome them.
Award-Winning, Nationally Recognized Expertise
Our award-winning service gives you a competitive advantage. We won the Best Newcomer Broker/Agent of the Year in 2017 and have been named one of Canada’s Top 75 Brokers annually since 2019.
Expert Knowledge of the Market
We live and breathe the BC commercial real estate market. We provide you with information on local trends and factors that lenders care about.
Access to More Than 300 Lenders
We have built strong relationships with a wide network of lenders. Our network includes major banks, credit unions, and private capital firms that specialize in business loans.
We Make Your Application Stand Out
A commercial application is a detailed business plan. We are experts at presenting your financial story in the most professional way. Our mortgage process begins by highlighting your strengths.
From Vision to Funded Project:
Let's Make Your Project A Reality
When you are buying property for your business, you need a strong partner on your team. We work with you every step of the way to make sure you get a great deal. We can find you the best commercial mortgage in BC so you can succeed.
Let’s sit down and build a plan for your property together. Contact one of our specialists to get started.