Commercial Mortgage Refinancing
Finance Growth and Meet Your Business Goals with Increased Cash Flow
Are you looking to refinance your commercial mortgage because your business needs have changed? It can be a good move if you select the right commercial mortgage product. One of the main reasons for commercial mortgage refinancing is to increase cash flow and have the necessary finances to expand and improve your business. You need to, therefore, ensure that your refinanced mortgage will deliver on those goals.
Mortgage refinancing requires strategic thinking and proper planning. It is a wise decision to consult a commercial mortgage broker who has access to a wide range of options and the expertise to guide you with your decisions.
Natasha Bridgmohan and her team of mortgage brokers at Mortgage Intelligence can ensure that you get the maximum benefit from your mortgage-refinancing product. We bring you a wide selection of commercial mortgages from over 50 leading institutions across Canada. This allows greater flexibility, choice of amortization and repayment schedules that will closely match your business and financial requirements.
Quick Tip: Although a penalty may be involved with mortgage refinancing, a better rate and more flexible terms offer greater benefits.
Other common reasons for mortgage refinancing:
- Current interest rates are lower than what you are paying
- Your current mortgage has restrictive terms
- You want to use built-up equity towards other projects like purchasing machinery or expanding your facility, etc.
- You want to consolidate all your non-mortgage loans
How to prepare for commercial mortgage refinancing:
- Make a note of your reasons for refinancing which could include lowering your interest rate, inability to make the next big payment, the need to increase cash flow, etc.
- Put together and organize all the documents you will need. These include profit and loss statements, balance sheets, tax returns and projected cash flow requirements.
- Know the current value of the property you want to refinance the mortgage for. The price could have increased or decreased since your previous mortgage loan.
- Determine if your credit could affect the transaction in any way. It is a good idea to talk to a mortgage broker with experience in handling credit issues.
- Calculate all of the costs associated with getting the new loan to ensure you can afford them. These could range from a property appraisal and title change to lender processing fees.
- Look at several mortgage products and compare your options.
Natasha Bridgmohan and her team are registered mortgage brokers at Mortgage Intelligence – a licensed mortgage brokerage under FSCO (The Financial Services Commission of Ontario).
Here is how we can help:
Offer expert mortgage refinancing advice: We understand the mortgage industry and can see the refinancing process to a satisfying conclusion for your business.
We work with credit-challenged clients: If your organization has credit issues and/or mortgage problems, we can work with you to improve your financial position and credit rating to find the right solution to meet your unique requirements.
Our support team of expert professionals helps you even further: Our in-house team features a mortgage broker, an underwriting manager, an insurance agent, a credit specialist, a private lender, a debt settlement consultant, a qualified insolvency counsellor, a property inspector and multiple real estate agents.
To obtain more information about applying for commercial mortgage refinancing, consult the professionals at Mortgage Intelligence. Call us toll-free at 1-866-553-7467 Ext 221 or you can also fill out our online mortgage application form.