And how do they differ from residential mortgage rates? We will also be looking at terms, because terms work so closely with rates.
Commercial property rates work quite differently from residential property rates. Generally with commercial property rates, the higher the number of years of a loan, the higher the interest rate, while with residential property rates, the higher the number of years of a loan equals a lower interest rate.
Most of the time with commercial rates you get terms with a lower number of years than with residential rates. For example, if you are to get an... more