{"id":12557,"date":"2015-06-06T13:11:27","date_gmt":"2015-06-06T03:11:27","guid":{"rendered":"http:\/\/chifleysecurities.com.au\/?p=12557"},"modified":"2017-07-06T00:34:47","modified_gmt":"2017-07-06T00:34:47","slug":"commercial-mortgages-basic-expectations-commercial-finance-application-2","status":"publish","type":"post","link":"https:\/\/chifleysecurities.com.au\/commercial-mortgages-basic-expectations-commercial-finance-application-2\/","title":{"rendered":"Commercial Mortgages Basic Expectations  Commercial Finance Application"},"content":{"rendered":"<p>What can you expect when applying for a commercial mortgage form a bank or non-bank blender? The commercial loan process is very different from the common home loan\u00a0process. Commercial loans, unlike the vast majority of residential mortgages, are not\u00a0backed by a government entity.\u00a0current business needs. Commercial\u00a0mortgage lenders like Chifley Securities are somewhat different in this area.<\/p>\n<p>Commercial lenders are much more risk-averse and charge a higher interest rate than on\u00a0home loans. this is generally accurate irrespective of whether you deal with a high street\u00a0bank or a non-bank commercial property fund like Chifley Securities. Some lenders go\u00a0even further. They look in to the borrower\u2019s business as well as commercial property to\u00a0ensure that it will serve as collateral for the loan.<\/p>\n<p>Before going in to a commercial mortgage, there is a list of questions you should ask\u00a0yourself, beginning with how are you going to meet the loan repayment terms? Usually, a\u00a0bank will require you to repay your business loan much sooner than the due date.<\/p>\n<p>Now, the real question is will you be able to repay in such a short space of time?\u00a0Many borrowers don\u2019t end up saving enough and turn to refinancing or trying to re-qualify\u00a0for their loan. Though it may be necessary, you should truly think of a plan to ensure that\u00a0all of your payments will be made on time and if possible before time.<\/p>\n<p>The next question you should ask yourself is how much you can or should borrow. Most\u00a0bank loans do not allow a second mortgage so it is important that you get into the loan\u00a0process intending to borrow enough to meet your current business needs. Commercial\u00a0mortgage lenders like Chifley Securities are somewhat different in this area.<\/p>\n<p>Traditionally, an acquisition loan for a borrower who is buying a new property, banks will\u00a0typically require a down payment of thirty five percent. Some may allow borrowers to\u00a0make a smaller down payment, maximizing the loan-to-value. However such loans aren\u2019t\u00a0usually bank loans, but are offered by direct commercial lenders like Chifley Securities.<\/p>\n<p>Commercial mortgages in comparison to a common home loan carry greater risk. When\u00a0applying for one, be sure to have a plan in mind!<\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"color: #ff0000;\">About the Author: Dominic Lambrinos<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p>Dominic Lambrinos is a financial expert who provides professional business finance\u00a0solutions, commercial financial engineering, expert review of financial submissions,\u00a0negotiation, equity raising, business sales, and trade financing. Dominic is also a sought\u00a0after finance business trainer, and accomplished public speaker.\u00a0Under Dominic\u2019s guidance, his team can also prepare professional financial submissions,\u00a0review financial statements, provide financial accounting, business administration,\u00a0development of information systems, marketing and sales skills, computer and Internet\u00a0sales skills.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What can you expect when applying for a commercial mortgage form a bank or non-bank blender? The commercial loan process [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":12861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,12,14,17,18,19,20],"tags":[8,21,10,11,13,15,22,16,23,24,25],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Commercial Mortgages Basic Expectations Commercial...<\/title>\n<meta name=\"description\" content=\"What can you expect when applying for a commercial mortgage form a bank or non-bank blender? 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