Business Banking

Business Mortgage

Financing for the acquisition of non-residential or income producing property, which may or may not be partially or fully owner-occupied.

• 10-30 year, fully amortized repayment terms.
• Exact amount of your loan payment set for 5 year term.
• Interest rates are usually on a five year adjustable basis. The interest rate is automatically reset every five years to the Five Year U.S. Treasury CMT rate plus a margin.
• Loan approvals and commitment letters are frequently issued subject to completion of appraisals, Phase I Environmental Site Audits, assignments of mortgages, etc. This allows you to determine the overall merits of the approval without having incurred a significant cost.
• If you refinance your existing mortgage, we may consider taking your existing mortgage by assignment. (This is subject to a review of the existing mortgage and notes and clauses contained in them.)
• You can expect a fast turnaround. Approvals and commitments are issued in as little as 5-7 business days. Closings are typically between 45-60 days once approved.