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What is the difference between commercial mortgage loan terms & amortization?

Commercial mortgage loan terms:

According to The Mortgage Store Online, a commercial mortgage loan term is the length of time you can keep your commercial mortgage loan before you have to renew or refinance it, or can pay it out (like, completely pay it off).

Like, for instance, if you had a commercial mortgage loan with a 10 year term, you would keep the conditions of your mortgage loan contract (the conditions about your payments and rates) for 10 years. What happens after your term of 10 years is up? You could renew or refinance your commercial mortgage loan (and possibly get new conditions for your payments and rates) for a new term in the length of your choice. Or, you could pay out your mortgage loan and be completely mortgage loan-free.

From The Mortgage Store Online, you can get the following commercial mortgage loan terms:

• Short commercial mortgage loan terms (6 month to 5 year terms)
• Long commercial mortgage loan terms (6 year to 18 year terms)

Get a commercial mortgage loan today! Fill out the commercial mortgage application.

Commercial mortgage loan amortization:

According to The Mortgage Store Online, commercial mortgage loan amortization is the length of time you get to pay off your commercial mortgage loan.

Like, for instance, if you had an 18 year amortization, you would have 18 years to totally pay off your commercial mortgage loan. You would have to pay back your principal (the amount of money you borrowed) and pay the interest charged on that principal.

From The Mortgage Store Online, you can get the following commercial mortgage loan amortizations:

• Down to 5 year amortization for residential mortgage loans
• Up to 25 year amortization for residential mortgage loans
• No amortization for residential mortgage loans
• Changeable amortization for residential mortgage loans

Get a commercial mortgage loan today! Fill out the commercial mortgage application.

Learn more about these commercial mortgage loan faqs topics by contacting The Mortgage Store Online's brokers. Just use the contact form or call them at 1-866-674-0548.

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