Commercial Mortgage Broker in Ottawa

A commercial mortgage covers income-producing or business-use property in Ottawa, including apartment buildings with 5 or more units, retail, office, industrial and mixed-use buildings. Buildings with 1 to 4 residential units are generally financed under residential rules instead. Which rules apply depends on the property and how it is used.

Lenders mainly look at the property: its net operating income, its debt service coverage ratio (DSCR), the loan-to-value ratio, and the condition and location of the building. They also review the borrower's experience, net worth and credit. Requirements differ by lender type, so your broker confirms what applies to your file.

CMHC MLI Select is a points-based CMHC insurance program for multi-unit residential rental properties with 5 or more units. Depending on the points a project earns, it can allow up to 95% loan-to-value and amortizations up to 50 years. Eligibility depends on the property, the project and CMHC's requirements, so we review your numbers before suggesting it.

Timelines depend on the property type, the lender type and how complete your file is. Conventional, CMHC-insured and private files each follow different steps, and appraisals and other reports can add time. We outline a realistic timeline once we know which lender type fits.

lendsimpl is licensed and regulated by FSRA (Brokerage #13763), required to disclose fully and act in your interest. Our office is in Scarborough, and we serve Ottawa and communities across Ontario.

Any fee that applies to your file is disclosed in writing before you commit.

Commercial lenders qualify the deal mainly on the property's income and DSCR rather than only your personal income, and the lender types, documents and prepayment terms can differ. A residential mortgage is qualified mainly on personal income and credit.

Banks, credit unions, CMHC-approved lenders, alternative lenders and private commercial lenders. Which type fits depends on the property, its income, your timeline and what the financing needs to do. We compare lender types and explain the trade-offs before you choose.