CURRENT MORTGAGE RATES Last updated:  April 28, 2008 Term Bank Rate Our Rate 6 month 6.20% 6.20% 1 year 6.95% 5.00% 2 years 7.00% 5.85% 3 years 7.00% 5.85% 4 years 6.85% 5.69% 5 years 6.99% 5.35% 7 years 7.40% 6.15% 10 years 7.75% 6.40% Variable Prime - 0.6% 4.15% Prime: 4.75% * rates subject to change without notice    .

What is Commercial Lending?
Any property that is zoned commercial would need a commercial lender to finance the purchase or refinance the equity to inject into your company or for expansion.

Canquest Mortgage can assist in arranging financing for your business needs in Industrial, Commercial and Investment mortgages. Karen will meet with you to discuss what documentation is required for your commercial deal to be referred and recommended through conventional or institutional lenders.

Funds Arranged for all types of Commercial Properties including:

• Income Properties
• Apartment Buildings
• Industrial and Retail Plazas
• Office Buildings and Stores
• Retirement Homes
• Nursing Homes and Stores
• And more!

What do you Need to Provide Canquest before we can Obtain a Lender?
The company has to prove the strength of the business and the individuals who own the business. They have to provide information in regards to the property ie. Value, taxes, environmental report, etc. The most important papers are the strength of the individual so they would want to see the financial statements and net worth of the principals involved in the company.

If you are purchasing a company – they would like to see the previous financial statements and your business plan. If you are putting money down on the purchase they need to know where the money is coming from ie equity in principal residence.

Our mortgages are only available to Canadian residents or foreigners purchasing property located in Canada.

Commerical Banks vs. Private Lenders