Canquest Mortgage: Calgary Mortgage Broker
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     CONTACT US

Karen Loehndorf
Calgary Mortgage Broker

Cell: 403.861.6969
Direct: 403.242.4392
Toll Free: 877.342.4392

karen@canquestmortgage.com

   COMMERCIAL LENDING

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

Bank Privates
Full Documentation Very Little Documentation “Stated Income”
Max 75% loan to value Max 80% loan to value ( 90% full doc package)
May Cross – collateralize Will not Cross Collateralize
Environmental Reports – Phase 1 & 2 Offers Environmental insurance instead of Report
Restricted lending areas Will lend virtually anywhere in North America
Expensive appraisals charged to Clients Rebate up to $1500 of appraisal fee ( if order through Lender)
Shorter Amortization Periods Up to 30 year amortization

 

     
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