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A commercial mortgage is a mortgage loan that is secured for commercial purposes. This kind of commercial mortgage loan uses a commercial property as a collateral although in many cases even residential properties are used. Commercial mortgage loans usually carry a higher rate of interest as compared to other non commercial mortgages owing to the fact that commercial mortgages present a higher degree of risk to the commercial mortgage lender.
Who can take a commercial mortgage? Commercial mortgages can be taken by organizations who are involved in building a commercial or business related building of office location. In a commercial mortgage a residential property cannot be used as a collateral. In case a residential property is used as collateral the mortgage can be termed as a residential mortgage. The major reason why the term commercial loan mortgage is used is that the security in this case is in the form of a commercial property. Some websites that offer online commercial mortgage are realwebfunds.com, http://www.rebuz.com/Directory/commercial-mortgage-directory.htm (directory to refer for websites). These websites also offer informtion on bridge loan mortgage.
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