Mortgage Services

Commercial Buildings

For commercial and semi-commercial loans, few standards are required according to the type of loan

 

Commercial*:

 

  • The subject property must me Owner-occupied.
  • The maximum financing is up to 65% of the property assessment by the lender.
  • Environmental Test Phase 1 or Phase 2 might be required if needed.
  • The amortization period is up to 15 years maximum, with a term of 1-5 years.

 

*Please bear in mind that the commercial files are considered case-by-case; the ideal would be to present your portfolio to Landmark Financial group so we may evaluate your options.

 

 

Semi-commercial:

 

Conventional

  • The percentage of financing (based on the market price or the purchase price) has to be 50% minimum.
  • The maximum amortization period is up to 20 years.
  • An evaluation report is required.
  • As well as an environmental test Phase 1.
  • The Debt coverage ratio is 1.25.

 

Insured

  • The percentage of financing (based on the market price or the purchase price) has to be 20% minimum.
  • The maximum amortization period is up to 25 years
  • An evaluation report is required.
  • As well as an environmental test Phase 1.
  • The Debt coverage ratio is 1.3.