Commercial Mortgage loan calculators are a good tool to help in calculating how much you can borrow and to what your payments will be in a commercial space. There are a lots of mortgage calculators available on the web. Be sure to use the right type of calculators as there are many different types of mortgage calculators available online. Majority of the calculators online for residential real estate mortgages, although they are a good guideline, but aren't enough for commercial real estate business.
Different criteria is used for determining commercial real estate mortgages by banks, there are additional factors used to determine the lending rates which are not applicable in residential real estate mortgages.Commercial real estate mortgage tend to have normally shorter terms of mortgages and have different interest rates.
How much your monthly payment will be depends on whether you have fixed rate, adjustable or balloon payment option, interest rates and amortization period.
The amount of information you will get will depend on how advanced your commercial mortgage loan calculator is. The basic data that you will need in any commercial calculator is the following: Cap Rate, Debt Coverage Ratio, Cash on Cash. A good calculator will give a snapshot of different options to suit your needs.
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Gurmit Singh is a licensed mortgage expert with Dominion Lending Centres Mortgage Villa.
Gurmit Singh, mba
Mortgage Expert
M08009905
Dominion Lending Centres Mortgage Villa (11574)
Email:gurmit@gurmitsingh.ca
Website: http://www.gurmitsingh.ca
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