Verico Summit Mortgage Services Inc. 1.888.707.0883 or 705.645.8645

First mortgage or renewing soon?

First mortgage or renewing soon?

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Think outside the bank

Think outside the bank

Our rates are great, and our service? Invaluable.

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Your interests come first

Your interests come first

We shop all lenders and compare options

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First home or vacation getaway?

First home or vacation getaway?

Muskoka’s mortgage broker is here to help.

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mortgage broker Muskoka, Muskoka, Mortgage, Commercial Property, Lending, Banks, Real Estate, Summit Mortgage, private lending, loans, first time home buys, second mortgages

Commercial Mortgages?

How to pay for commercial real estate

When you want to buy or refinance a commercial property in Muskoka, call us first. As well as our multitude of lenders, we have access to private money that may be more convenient to you. Yes, the rules are different for income producing, commercial properties, but at Summit Mortgage, we work to make the process as easy as possible for you.

To qualify for a commercial mortgage, the property must:

  • conform to the municipality’s zoning rules
  • be a multi-purpose, industrial, office, commercial, or be multi-residential (5 units)
  • exist in an active resale and rental market
  • be located where current market rents exist for comparable properties, and be readily marketable
  • have a current appraisal and other reports, such as environmental and building condition documentation.

Mind you, a main street store in Gravenhurst with an apartment above is considered commercial. Again, that’s why you need the guidance of a mortgage broker to navigate the rules for buying a commercial property. So many variables – we have the time to sort them out for you. on a case by case basis.