Now it's easier to apply for a commercial needs mortgage worth between $500,000 and $2 million. The CIBC Commercial Choice Mortgage can help you reduce the costs incurred in borrowing for a commercial mortgage, while simplifying the application process - saving you time and money.
Choices include a
term on a
Variable rate mortgages have the option of a
Competitive interest rates on fixed- and variable-rate mortgages.
Information you need to know
This mortgage is available for:
Multi-unit residential (5 or more rental units)
Retail plazas, strip malls and shopping centres
Office buildings and medical centres
This mortgage cannot be used for highly specialized real estate including:
Hotels and motels
Social clubs and banquet halls
Schools and places of worship
Recreational real estate
Car washes and restaurants
Properties that require stabilization (currently vacant or being retrofitted)
This mortgage is only available as a first mortgage.
The amount of financing available is based on the property's Lending Value and the Net Income available to service the debt.