Frequently Asked Questions 

  1. What is a commercial mortgage? A commercial mortgage is a loan that is secured by a piece of commercial real estate, such as an office building, warehouse, or shopping center. This type of loan is used to finance the purchase or refinance of a commercial property.                   

  2. What is the difference between a commercial mortgage and a residential mortgage? Commercial mortgages differ from residential mortgages in several ways, including the size of the loan, the type of property being financed, and the qualifications required for borrowers. Commercial mortgages tend to be larger and require more stringent credit and income qualifications, while residential mortgages are typically smaller and have more relaxed eligibility requirements.

  3.  How much can I borrow with a commercial mortgage? The amount you can borrow with a commercial mortgage depends on several factors, including the value of the property being used as collateral, your credit history and financial stability, and the lender's underwriting criteria. In general, commercial mortgages tend to range from $500,000 to $10 million or more.
  4.  What is the interest rate on a commercial mortgage? Commercial mortgage interest rates can vary widely depending on the lender and the specific terms of the loan. Interest rates are often higher for commercial mortgages than for residential mortgages due to the higher risk involved with financing commercial properties.

  5. What are the qualifications for a commercial mortgage? Commercial mortgage borrowers typically need to have a good credit history, substantial net worth, and a solid history of financial stability. The lender will also consider the value of the property being used as collateral and the borrower's ability to repay the loan.                                         

  6. How long does it take to get a commercial mortgage? The length of time it takes to get a commercial mortgage can vary, but it can take anywhere from a few weeks to several months. The process can be quicker if you have all of the required documentation and information in order, and if the lender is able to quickly underwrite the loan.

  7. Can I use a commercial mortgage to refinance an existing loan? Yes, a commercial mortgage can be used to refinance an existing loan. Refinancing can help you lower your monthly payments, secure a lower interest rate, or access additional cash for your business.

  8. How do I apply for a commercial mortgage? You can apply for a commercial mortgage by contacting Global Catpital Funding a direct lender. Global Capital Funding will typically ask for financial information, such as tax returns and bank statements, as well as information about the property being used as collateral.

  9. What is the loan-to-value ratio for a commercial mortgage? The loan-to-value (LTV) ratio for a commercial mortgage is the amount of the loan compared to the value of the property being used as collateral. Commercial mortgage LTV ratios typically range from 50% to 90%, depending on the lender and the specific terms of the loan.

  10. How do I make payments on my commercial mortgage? Payments on a commercial mortgage can be made on a monthly or quarterly basis, depending on the terms of the loan. Payments typically include both principal and interest, and can be automatically deducted from a checking or savings account.