Small Commercial
CMLS Financial is one of Canada’s largest full-service mortgage providers. With a dynamic range of financing options, we can arrange a mortgage solution tailored to your customers’ needs quickly and conveniently.
CMLS Financial specializes in developing flexible and innovative solutions with prompt approvals and exceptional customer service.
Highlights- Personalized service
- Competitive pricing
- Flexible solutions
- Prompt turnaround time
- Multi-unit residential 10+ units
- Student residences
- Industrial
- Office space
- Retail
- Mixed use
- 1st & 2nd mortgages
- 1-5 year terms
- Up to 25-year amortization
- Closed and open mortgages
- Up to 70% LTV on 1st mortgages
- Minimum DSCR requirements
- BCA (Building Condition Assessment), ESA (Environmental Safety Assessment), appraisal required for every property
Finders Fee
Typically, on this type of a commercial mortgage, the originating broker will charge a fee to the borrower. If required, CMLS Financial may, in select cases, build a fee into pricing.
Pricing
Pricing is very much deal dependent, but typically 200-250 bps above the Government of Canada bond yield for the requested term. Second mortgage rates range from 6% to 9%. We are competitive with the banks and credit unions in terms of rates, but we also consider ourselves to be more flexible.