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Current Mortgage RatesVariable closed: 1.65% 1 year closed: 1.64% 3 year closed: 1.59% 5 year closed: 1.69% 10 year closed: 2.84% Glossary
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Hotel and Motel Mortgages
Get the Best Commercial Rates on Hotel Financing in Canada
Utilize the experience and know-how of Super Brokers Mortgage to formulate the best plan to acquire your hotel or motel financing. Whether your loan will be used toward the building of a brand new accommodation property; the refurbishing of an aged motel or inn; the acquisition of a franchise; or a grand-scale renovation, Super Brokers can the right financing product to suit your venture's needs.
If your start-up hotel/motel is not part of a recognized accommodation chain, securing financing through a traditional bank or financial institution may be difficult. Super Brokers can attain financing from other syndicated non-bank lenders and real estate financiers at lower rates than provided through private commercials lenders.
Investing in a hotel/motel venture is a big step, but one Super Brokers can take with you. For all of your inquiries and financing needs, contact a Super Brokers commercial financing representative today by completing our free and secure commercial financing application.
Apply Now for a Commercial Hotel or Motel MortgageHotel and Mortgage Financing 101
In order to qualify for a traditional hotel or motel mortgage, the following criteria will usually be taken into consideration:
- Procurement of a 35 per cent down payment
- Operational expenses and income forecast
- Proof that mortgage will be supported by room rental revenue, not a bar or restaurant located in the hotel/motel
- Proximity to a major city centre or tourism site
- Condition of the property
The purchase of a hotel franchise or local motel can be a source of investment revenue for years to come. Discuss your plans with a Super Brokers Commercial mortgage representative by filling out a commercial mortgage application today.
Our Disclaimer: Although we make every attempt to ensure the accuracy of our website, we recommend you use the above mortgage information as a guideline only. Mortgage Super Brokers makes no guarantees on product availability or the rates shown unless otherwise stated. Super Brokers always recommends that you consult a commercial mortgage broker using our online application before making any final decisions.
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