Retail and Strip Centre Mortgages
Rental Property Financing
Let Super Brokers help you find the commercial financing you desire, on your terms. The Canadian retail and strip centre market is diverse and competitive. Super Brokers will work with you to ensure that you attain the best rate and term available for your centre.
Retail and Strip Centre Financing Need to Knows
As is the case for attaining nearly any commercial financing product, lenders will have requirements they are seeking in providing you with the financing for your retail or strip mall venture. Utilizing a Super Brokers mortgage specialist ensures you guidance through the application procedure so that you may attain the retail financing you need. Most importantly, it makes the process smoother than ever.
Mortgage Specifications
Here are some of the items you will need to know regarding your retail and strip centre mortgage:
- Financing can be provided at 75 per cent loan to value
- Properties require income generation. Approximately $1.20 of income for every $1.00 of debt to be viable
- Lenders will review leases and will complete their own assessment of the property’s revenue
- Lenders will be looking for a strong, reliable and diverse tenant base that matches the terms of the mortgage
- Location, condition and detailed access information (roads, parking, loading zones) regarding the property will need to be provided
- Credit history will be verified
Having the proper help can be beneficial when looking for financing. Moreover, it can mean the difference between finding decent rates and finding great ones. Don’t settle for subpar rates because it can mean thousands of dollars out of your pocket.
For all your questions and inquiries regarding retail and strip centre financing, contact Super Brokers. Complete our easy and secure commercial mortgage application today to get the process started.
