menu search
brightness_auto
Ask or Answer anything Anonymously! No sign-up is needed!
more_vert
Best Mortgage Brokers in Australia   

5 Answers

more_vert
Residential mortgages is a loan secured by on property you livein and have for longer terms while commercial mortgages are amortized for shorter periods and sometimes called business mortgage. Also, when you borrow to buy commercial property, the interest rate are usually higher than when you take out a mortgage on residential property because banks or lenders usually think that there is higher risk of a default on commercial property.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Commercial mortgage are type of loan from the bank or lender to help you finance the purchase at home while the residential mortgage is a loan secure by the land you live in and have for long period of time . 
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Residential mortgages are for personal homes, while commercial mortgages are for business properties. Commercial loans have higher interest rates and stricter qualifications.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
Commercial mortgages generally have lower loan-to-value ratios than residential mortgages, as well as shorter amortization periods. That means a bank will likely expect your down payment to make up a higher proportion of the property value.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
more_vert
buy commercial property, the interest rate are usually higher than when you take out a mortgage on residential property because banks or lenders usually think that there is higher risk of a default on commercial property.
thumb_up_off_alt 0 like thumb_down_off_alt 0 dislike
Whenever you have a question in your mind, just drop it on Answeree. Help our community grow.
...