Montreal is one of Canada’s most powerful and vibrant economic hubs. It is without a doubt the engine that drives the economy of Quebec and the surrounding area. Finding the right commercial mortgage broker in Montreal will allow you to unlock the potential for earnings that this city provides, saving you tens of thousands of dollars over the life of your loan or more.
Did you know that Montreal was actually Canada’s most important business city until not too long ago? The economic power of this city is driven by innovative entrepreneurs willing to take risks. You can lower those risks by trusting North East Mortgages to find you the best commercial loans in the city. Commercial real estate loans are an entirely new ball game compared to their residential relatives. The dollar figures, and, therefore, the types of options available to you will differ significantly. The only issue is that going directly to a lender yourself will result in higher initial costs, mortgage rates, and even down payments. Using an experienced commercial mortgage broker in Laval, West Island, or the rest of the city is the only way to secure the best rate.
With a combined decades of experience doing business in this city, North East knows what makes this economy tick. We’ve got the right relationships in the right places, ensuring that you have unequaled access to the best options in the city. It takes a broker that has a different knowledge base and skill set to successfully find a loan that fits you, the business, and your financial goals than it would to find you a home loan, and that’s why there’s no choice but to go with a certified commercial loan expert.
Our business property financing philosophy
Doing business doesn’t come without taking risks. No successful venture has ever been started with a guarantee of success. If they had been, they wouldn’t have been successful. North East isn’t here to promise you that each property you buy, each loan you take, or each venture you start is guaranteed to succeed; you are already aware that there are risks involved. However, we can promise you this: if you use us as your commercial mortgage broker in Montreal, we will make sure you get the most favourable loan, the one that gives you the best chance to succeed.
The economic power of this city is built on financing — built on allowing people of all walks of life the chance to make a dream into a reality. And it all starts with the right piece of property to build a business. Doesn’t matter if it’s a hotel, commercial office building, strip mall, or warehouse outlet, North East knows which deals to look for. Our goal is to get you the loan that fits your business’ needs perfectly, nothing else.
The dollar figures involved in these transactions mean that the majority of lenders concentrate on their fees, not on what works best for you. Terry and the team at North East are on your side, not with the lenders.
Why are commercial loans different than residential?
The idea of loaning money under the promise to repay might be the same, but commercial and residential loans are completely different than each other. Think of them as two species of the same animal. If you’re looking for a commercial mortgage broker in West Island or anywhere else in Montreal, you must know that it takes more than just your average real estate agent. A few of the major differences are:
- Residential loans are based on your ability to pay, commercial normally on the ability to make profit
- Down payments are often larger and non-negotiable
- Commercial loans tend to have shorter lifespans
- There could be penalties for repaying ahead of schedule
You need a broker that not only understands these difference, but also understands how they play out in the local market.
The team at North East is the city’s go-to provider for commercial loans. We are the leading commercial mortgage broker in Montreal, Laval, West Island, and the rest of the Province of Quebec. Contact us today to get the best loan for you business!