Commercial Mortgages in Toronto
Property-driven underwriting for Toronto commercial real estate.
Commercial mortgages — 5+ unit multi-residential, mixed-use, retail, office, industrial — are underwritten on the property's cash flow and the borrower's covenant. Pricing, term, and amortization are negotiated, not posted. A broker quarterbacks the lender shop.
Who this is best for
- Investors buying or refinancing 5+ unit apartments
- Owner-operators buying their own commercial space
- Mixed-use property owners
- CMHC-insured multi-residential candidates
How a Toronto mortgage broker helps
- Packages the deal — rent rolls, NOI, environmental, appraisal
- Shops conventional, CMHC-insured (MLI Select), and credit-union options
- Negotiates rate, term, amortization, and covenants
- Coordinates the appraisal, ESA, and legal
What lenders typically look at
- Property cash flow (DSCR) is the primary driver
- Borrower net worth and liquidity
- Property type, condition, and location
- Environmental report often required
- CMHC programs available for qualifying multi-residential
Documents you'll likely need
- Rent roll and operating statements (2 years)
- Personal net worth statement
- Personal tax returns
- Property appraisal and ESA
- Corporate financials if held in a holdco
A Toronto example
Toronto 8-unit walk-up refinance
An 8-unit walk-up with strong NOI is reviewed across conventional, credit-union, and CMHC MLI Select programs to compare 5-year and 10-year structures.
Frequently asked questions
+What's the minimum down for commercial?
Usually 25–35% depending on property type and program. CMHC-insured multi-res can be lower.
+What is CMHC MLI Select?
A CMHC insurance program that rewards energy efficiency, affordability, and accessibility with better terms on qualifying multi-residential properties.
+How long does commercial financing take?
Typically 45–90 days due to appraisal, ESA, and legal complexity.
+Do I need to be incorporated?
Most commercial deals are held in a corporation. A broker coordinates with your accountant and lawyer.
Related
This website does not guarantee any mortgage rate, approval, or product. We do not provide mortgage advice on this website. All mortgage transactions are handled by the licensed brokerage identified on this site, in accordance with FSRA requirements.