Question:

How to obtain a fixed rate commercial mortgage?

Answer:

Obtaining a fixed rate commercial mortgage takes the same approach you would approach your first mortgage lender. It is a mortgage with fixed rate payments for the whole term of the loan. A fixed rate commercial mortgage has a typical lifespan of 5 to 20 years.

What is the required paperwork for a fixed rate commercial mortgage?

The major difference in the application process for a regular and a commercial mortgage is that you need to convince the lender you know what you are doing and where you are going with your business. Commonly, they will ask you to provide a business plan.

Common Property Types Financed with a Fixed Rate Commercial Mortgage

Hotels, offices, multi-family, light industrial sites and assisted care facilities are a good example of commercial properties to fund with a fixed rate commercial loan. However, heavy industrial sites and large multi-million projects will be possible to fund with lenders specialized in fixed rate commercial super jumbo loans.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 2.8/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Definitely
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: