You’ll need to check a few boxes when looking for a broker to deliver one of these loans.

•  Suppose you’re a business that wants to develop a large commercial or industrial complex or even several small lots. The land is financed at 50% of the purchase price using the appraised value. The lower value is accepted.
• Investments and improvements prompt lenders to consider at higher financing percentage
• It’s important to have all the proper documentation, including a substantial down payment, which can be as much as 30% of the loan amount. Make sure you have proof of building permits and the necessary zoning. It’s always necessary to have an independent appraisal of the value of the land. We are a commercial mortgage broker in Toronto who can help you through all these steps.

We are a commercial mortgage broker in Toronto team. We can help developers and buyers source and structure appropriate debt and equity capital for their property needs. Contact us today to learn how we can help. Let us look after everything like a commercial asset. We can finance a single piece of land or a multi-phase integrated development and construction project. We can help you with all the details, including any additional collateral needed to secure the money.

Our Commercial Mortgage Broker Team is Strong

Our strongest asset is our team. We have an excellent edge over the competition because our staff of commercial bankers understands what our clients need. Take advantage of our decades of banking experience today.

The post We’re The Commercial Mortgage Broker For Land and Development Loans appeared first on OMJ Mortgage.

Many Canadians consider purchasing an investment property a good option. However, a few things are different from a residential purchase. For example, you’ll need to consider the number of units in any building and decide whether you will occupy any space in them.

These are the two significant factors a commercial mortgage broker can help you with. We can walk you through everything you need to know, including the different types of properties that generate income. Our priority is ensuring you get the best property for your requirements.

• The first is a residential investment that an investor could rent out or fix up and resell. Some common ones include townhouses, cottages, apartments, condominiums and single-family homes.
•  Office buildings and retail stores are commercial properties. Canadian lenders usually consider any building with five or more units a commercial investment.
• A building that falls under both of these categories is considered mixed-use. An example is a street-facing retail store with an apartment on the floor above it.

Having a commercial mortgage broker on your side can help you with other decisions, like how much down payment you’ll need. For example, as of 2010, the Canadian requirement is a 20% down payment on non-owner-occupied investment properties.

It’s important to remember that if you put down anything under 20% on one of these investment properties, your maximum amortization will be 25 years. Using a commercial mortgage broker is about leveraging their experience. We can help you with the details. If you put down 20% or more, you can qualify for up to a 35-year amortization period.

Looking for an Excellent Commercial Mortgage Broker You Can Count On?

OMJ Mortgage Capital is a broker with experience. Contact us today to learn more. Getting professional help when making a significant investment is always a good idea. We bring over 75 years of experience to every project that we work on.

The post Some Tips from a Commercial Mortgage Broker on Investment Properties appeared first on OMJ Mortgage.

Finding the right property is another matter. Here are some tips for getting that part of your enterprise underway.

Talk With An Accountant.

It’s important to have a budget before you make any further plans. Affordability is a big part of any commercial real estate purchase. These professionals will help you determine all of the hidden costs involved. Commercial mortgages can have complicated tax implications. Some issues that need to be looked at include succession planning and transition financing.

Work On Your Financing

Any commercial mortgage broker will tell you this type of financing isn’t easy to get. Before you even start looking at locations, bankers will want to see high-quality financial statements.

Check Out The Local Markets

Check out the local markets before you make any other decisions. Different zones have unique environmental issues, land inventory, and tax rates. Find out how much skilled labor is available in any area.

Plan A Good Layout

Your business might be renovating or buying an existing building. The best bet is to hire an expert to optimize the layout

OMJ mortgage capital is a commercial mortgage broker that can help you with your commercial mortgages. We specialize in fast approvals and closings as well as unbiased independent advice. We are located in Toronto, Ontario.

Commercial Mortgage Broker Contact Options  

Contact us through the forms on our website or by telephone, email, or the social media links we have provided. Our team includes ex-bankers with specific knowledge of commercial financing. Our number one priority is to make the major lending institutions compete for your business. Get in touch with us today to learn more.

The post Commercial Mortgage Broker Tips for Finding The Right Property. appeared first on OMJ Mortgage.

Categories

New construction loans fall under three different categories. There is a self-built home, what’s called a takeout where you buy from a builder, or a builder contract arrangement that’s called turnkey.

Draws and Other Commercial Mortgage Broker Advice

The money is allocated in different stages if you want to build yourself.  These are called draws. If you need to buy the land to build a new home on, the very first advance comes to help you by a vacant lot.

• The next allotment comes once the excavation and foundations have been completed.
• The third draw comes once the roof is put on in the building is protected from the weather.
• Other money is released once the wiring and plumbing are started, the furnace is installed, the bathroom is finished and doors have been hung in place.
• The fifth draw happens when the home is ready for occupancy with all of the exterior and seasonal work done.

There are some differences between  traditional and new construction loans.

• The terms on construction loans are much shorter than traditional mortgages. In fact they can last one year or less in many cases.
• With the traditional mortgage, you get the full amount up front. A construction mortgage allocates the money in stages.

Finally, as a commercial mortgage broker we always alert our clients the down payment on construction loans is higher. That’s because the lender does not have an existing house as collateral. Finally, it’s important to remember that an inspector goes onto the property before each draw is advanced to inspect the work done.

The post Commercial Mortgage Broker Advice for Construction Loans appeared first on OMJ Mortgage.

Ask for Help

As much as most business owners consider their SMB their own baby, you need outside help and advice to make it run properly. That includes a professional team of lawyers, accountants and even colleagues who complement your goods and services.

Don’t overlook the benefits of using outside consultants too.

Measure with Metrics

Having a five-year plan helps. But you’ll need to adopt a few signposts along the way to make sure you’re on the right path. Don’t underestimate the power of business software for measuring important benchmarks like net profit margin and sales revenue.

 Commercial Mortgage Broker Tips to Hire Good People

Hiring strong candidates takes time. You’ll need to have a strong HR department or know exactly what you’re looking for if you’re a smaller business without one. You might need to offer a flexible work environment and other perks to attract top talent.

Don’t Sit Back

Innovation is the key to success. Offering new services and products on a constant basis opens you up to new markets and invigorates loyal customers. Small businesses that adopt new technologies always attract more sales.

Look After Yourself 

Finally, here’s a little personal business advice from your commercial mortgage broker Toronto team. Eat right, get plenty of exercise and sleep properly. If you burn your body out and cause yourself health problems, your business will fail. Having a good work life balance will invigorate you so you can meet new business challenges as they come.

We’re here to help. We’re the commercial mortgage broker with an expert team that works for you.

The post Your Commercial Mortgage Broker Supplies 5 Must Haves for A Successful Business appeared first on OMJ Mortgage.

PwC Canada has just come out with Emerging Trends to Watch in Real Estate 2020. The report had some interesting findings and the kind of numbers we could use to help our clients get the best mortgage rates.

Here’s a high-level overview of what you need to know:

• The report says the Toronto real estate scene is thriving. Fueled by immigration, Toronto continues to be one of the fastest-growing cities in the United States or Canada. PWC also reports that The Conference Board of Canada is predicting a growth rate of 2.4% for the rest of this year and into 2020.
• Warehousing continues to be one of the areas for development going into next year. It’s a good idea to look to a commercial mortgage broker like us if you’re thinking about getting involved in the market. The report says the availability rate is only 1.5% in the GTA.
• As far as the office sector goes, the entire country including Toronto has a fast-growing tech sector which has a positive influence. PWC reports the vacancy rate for properties right across the country was 10.5% in Q2/ 2019.

Here’s another interesting tidbit from the report. Cyber security continues to be a big technological issue for businesses. A PWC related study found that many businesses can’t rely on their present policies and procedures.

Finger on the Pulse

We are the Toronto Commercial Mortgage Broker team that has their finger on the pulse of the markets and other issues. Get in touch with us today to learn more about what we can do for you. We’re always more than happy to help our business clients get to where they need to be.

The post Emerging Real Estate Trends for 2020 From Your Commercial Mortgage Broker appeared first on OMJ Mortgage.

How Does the Approval Process Work?

It’s no surprise that investors want to know how the process works. As a commercial mortgage broker, we have experience with the getting you the money you need. We can help you with the requirements and conditions too.

These often include several different types of reports. These include the environmental and engineering conditions of the property. Of course, we also supply appraisals and review any background checks.

A Commercial Mortgage Broker will Review Your Finances

Reviewing your finances with you is one of the most important things we do. Remember, a commercial property needs different scrutiny than a residential home. That’s why we  also help you by taking a good look at liabilities and assets of the business. This will help you to make a good purchase

We are a transparent company. That means we are upfront about how long it will take you to get a commercial mortgage. Residential loans are generally approved quite quickly. However, because there is more information needed, a commercial loan might take us several months.

What Do I Need to Know About A Construction Loan?

The best mortgage rates are only one aspect of a construction loan. There are several different aspects you’ll need to consider. For example, one type of loan here releases money as the construction moves ahead. Generally, there are three different stages were the money is released.

It’s always a best practice to make sure all the legal requirements are met when you are buying a commercial property or building one. Our Commercial Mortgage Broker team can help.

The post The Big Questions A Commercial Mortgage Broker Gets Asked appeared first on OMJ Mortgage.

That said, here are three indicators of business growth that you should be paying attention to. You should look at these during different points in the life of your business.

• This is certainly one of the key indicators. Although it might seem obvious that profitability should be at the top of your metrics list, we’d like to add an extra tip for the things you need to look at. If you compare profits that you make to similar industries in your business vertical, you’ll have a better idea where you stand.
• This is all about taking a good look at whether your business is meeting its short-term financial obligations. It’s a smaller view than profitability, but just as important. Quickly defined, this is the ability your business has to get to assets and cash quickly. It’s very important in these volatile times.
• We deal with financing as your Toronto commercial mortgage broker. However, it’s important for small business to take full advantage of the financing that’s offered to them. Short-term business loans and lines of credit are important vehicles for you to leverage as a business owner.

It’s important to have all the best players on your team as a small business. That’s why you’ll need to consider us because we are an outstanding organization that has the benefit of senior ex commercial bank managers on it.  Our Toronto Commercial mortgage broker team is industry leading. Why not get in touch with us today so we can show you what we can do for your small business?

The post Three Indicators of Business Growth from Your Commercial Mortgage Broker appeared first on OMJ Mortgage.

Anyone who’s looking for the best commercial property needs to understand the real estate market they’re getting involved in. There’s a few different things to look at here including environmental issues and tax rates. These variables change from different municipalities and provinces.

Depending on the kind of business you’re in, understanding how much skilled labor is available in the area you’re interested in can be critical.

Get Financing

Getting the best mortgage rates is a part of what we can do for you as a commercial mortgage broker. However, it’s important to remember that getting a commercial loan in the first place isn’t always a simple matter.

Lenders are going to go over your financial statements with a fine-tooth comb. It pays off in the long run to get all the necessary documents together before you start applying. The best rates are an important part, but they are only one piece of the puzzle.

Overly exaggerated revenue forecasts can land you in trouble in the long run. You’ll also want to pay special attention to the amount or percentage that lenders are willing to finance of the purchase. These are the kinds of details that make a difference.

Pick Good Contractors

Finding the right contractors is an important part of swaying lenders. These people will need to be part of your business plan. You should be looking for builders who have a solid reputation in your industry and a credible track record.

We’re the commercial mortgage brokers that understand how all the pieces fit together.

The post Excellent Tips to Make A Purchase from Your Commercial Mortgage Broker appeared first on OMJ Mortgage.

These Help You to Look Ahead

Starting a business can be tough enough without floundering around to find a good direction. A business plan is a good way to present a strategic path — where you see your company going for the next 3 to 5 years.

These kind of big picture strategies for your day-to-day operations prevent you from flying blind.

They Reduce Risk

In these volatile economic times, start-ups need to be aware of risk. By taking an honest look at your situation as it stands now as well as your weaknesses and strengths, you’ll be able to steer clear of some potential problem areas .

They Build a Team

If you’re a new company, building a cohesive team is one of the aspects that will help you to move forward. The business plan provides common ground for your employees so everyone’s on the same page for growth.

You can even ask employees to become part of the business plan process. Asking what they think the strengths and weaknesses are of your company is a great way to get everyone involved.

Commercial Mortgage Broker Scaffolding

A good business plan also helps you to assign roles to people who work for you. It’s a great way to make sure everyone understands the scaffolding you’re putting together to make your business work.

Finally, it’s necessary to get a good perspective on your business plan before it is submitted. That means you should get an outside point of view from professionals. It’s the same process as getting the best mortgage rates and using a commercial mortgage broker.

The post Commercial Mortgage Broker Tips: Why You Need A Business Plan appeared first on OMJ Mortgage.