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.

Recommended helpful present and future homeowners links:
Why: Refinance to a fixed rate loan while mortgage rates are still low.
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Why: Because FHA loans are insured by the US Federal Government they have very competitive interest rates and are easier to qualify.
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Common misspellings: mortage and morgage