commercial mortgages

A commercial mortgage is a loan specifically used to purchase or refinance commercial properties, like office buildings, retail spaces, or warehouses. These loans are typically offered by banks or financial institutions and are secured by the property itself, meaning if the borrower fails to repay, the lender can take the property. Commercial mortgages usually have different terms than residential mortgages, including shorter repayment periods and variable interest rates. They play a crucial role in helping businesses acquire the physical spaces they need to operate and grow.