MKG Mortgages
Commercial MortgagesHamilton
Commercial Mortgages in Hamilton
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Reviewed by Micky Khaneka, licensed mortgage broker
A purchase, a refinance, or a draw of equity each starts with the building, the income it produces, and the purpose of the loan.
Micky brings more than 15 years of banking and mortgage experience, including time on the lender side. Hamilton files are prepared from the North York office. There is no Hamilton branch, and this page is not an approval.
What is a commercial mortgage, and how does it work?
A commercial mortgage is financing secured by property used mainly for business or investment. It can buy, refinance, or draw equity. The office for the file is in North York.
The lender reads the building's use, its income, and the borrower together. A plaza in Stoney Creek, a shop in downtown Hamilton, and a small industrial building near the harbour can sit in the same price range and still need different structures.
Which properties can be financed?
Retail, office, industrial, warehouse, and owner-occupied premises in Hamilton can be financed when a lender wants that building. The use, the tenants, and the borrower change the file. There is no single down payment for every Hamilton purchase.
- Retail
- Office
- Industrial and warehouse
- Owner-occupied premises
That includes properties in Ancaster, Dundas, Flamborough, Stoney Creek, Glanbrook, the lower city, and the mountain.
How is the file read?
Lenders read the property income, the borrower, and the purpose of the loan. A clear file names those three before an application goes out.
Income-producing buildings are read through the leases and expenses. An owner-occupied shop or workshop is read through the operating business. The papers come to the North York office. A commercial appraisal may be required. You may or may not qualify on the structure the lender accepts.
Questions
What kinds of Hamilton properties can a commercial mortgage cover?
Retail, office, industrial, warehouse, owner-occupied, and some mixed-use buildings may be considered, depending on the property and the lender. Give us a call at 905-758-1335.
Is there a set down payment for a commercial purchase in Hamilton?
No, the equity a lender wants depends on the building, the income, and the borrower. Give us a call at 905-758-1335.
Do you handle Hamilton commercial files from North York?
Yes, Hamilton commercial files are prepared at the North York office. Give us a call at 905-758-1335.
Is this the same as a house mortgage in Ancaster or Stoney Creek?
No, a house you live in uses the residential Hamilton page; a building used mainly for business uses this commercial page. Give us a call at 905-758-1335.
Not sure where you stand?
Let's talk it through. Book a free intro call and we'll give you an honest, realistic take on your options and the strategy we'd suggest. No obligation, no fee.
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