Formalities to get a commercial mortgage!

[Angela01]

Hi,

I would like to know about the formalities to get a commercial mortgage, a joint one. I'm planning to start a business in partnership with my friend. As we are new to the mortgages, have a lot to get clarified. Hope someone would help find the following:

1. The documentation procedures and details on the commercial mortgage criteria in Canada
2. How to get current rate details and comparisons?
3. How the brokers divide the monthly payments in case of a joint mortgage? Is it based on the income or the initial investment? Or shall we divide it?

I came to notice a professional offering fixed-rate mortgages Ontario. Does anyone know the rate offered by them?

Sorry for asking many questions. If you could answer at least one, it would be helpful for us. Reply awaited. Thanks in advance!



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