Commercial Mortgage Refinance
Refinancing Could Save You Money
There are several reasons as to why you may be considering the refinance of your commercial mortgage. Before you take that step, consult a Canequity Commercial mortgage specialist to discuss all of your options. Refinancing a mortgage product will often incur a penalty fee, but if you refinance into a better mortgage product, with more flexible terms and a lower rate, the refinance will still be of large benefit.
When to Consider Refinancing
A Canequity commercial mortgage representative will be happy to assist you in determining when and how you should go about the refinance of your commercial mortgage. Here are some common determinates:
- Current rates offered are substantially lower than the rates you are paying on your current mortgage product
- The terms of your current mortgage contract are restrictive; a more flexible product would better suit your venture
- You would like to utilize some of the equity you have built on your property towards other endeavours; to expand your current operations or to purchase machinery, make repairs or put toward other beneficial uses
- You wish to consolidate other commercial loans or high interest debts into the refinance, allowing for one, easy payment at a lower interest rate
Apply Now to Refinance Your Commercial Mortgage
What you will Need to Refinance your Commercial Mortgage
In many cases, before a commercial mortgage refinance can get underway, the bank or lender from which your mortgage was borrowed will request information detailing why the refinance has been requested. They request this information to determine the financial viability of the request.
In addition, a new, current appraisal may be required to accurately gauge the present value of the mortgaged property, and thus its accurate refinance value.
Canequity will aid you in every step this process takes. Our commercial mortgage specialists will utilize their years of expertise in ensuring your commercial mortgage refinance is optimally transacted to best benefit you and your business.
Apply today using our secure online commercial mortgage refinance application.Our Disclaimer: Although we make every attempt to ensure the accuracy of our website, we recommend you use the above mortgage information as a guideline only. Canequity Mortgage makes no guarantees on product availability or the rates shown unless otherwise stated. Canequity always recommends that you consult a commercial mortgage broker using our online application before making any final decisions.