Commercial Second Mortgage Rates
Published: Jan 24th, 2010 | Author: Alex Bhaswara
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A commercial mortgage is what can be described as the use of real estate as collateral for a mortgage to secure payment. The difference between a commercial mortgage and a residential mortgage is only the type of land used.
The rates may slightly differ but they are generally the same. A commercial mortgage is also taken by a business entity rather than an individual borrower.
In this case you will find that the assessment of such collateral will be quite tricky. This has led to trickier commercial second mortgages. This type of mortgage is normally used in conjunction with a first loan that is new. (more…)
