home | about us | site map | contact us

home mortgages commercial mortgages calculate mortgage payments view current mortgage rates how to use a mortgage learn about mortgages
apply online commercial mortgage refinance commercial purchase mortgages commercial equity loans commercial finance mortgages commercial loan types commercial mortgage rates commercial mortgage calculators mortgage articles commercial mortgage faqs
Refinance Mortgages

home > commercial mortgages > refinance > articles > easy to qualify loans

Refinance loans that are the easiest to qualify for

This refinance article that will tell you which types of refinance mortgage loans are the absolute easiest to qualify for.

The refinance loans that are the easiest to qualify for include the closed loan, the fixed rate loan, and the long term loan. And the very easiest refinance loan to qualify for would be a "combo" of all of those loan types.

Closed commercial refinance mortgage loan

The closed mortgage loan is another type of commercial loan that's simpler to qualify for.

If you get a closed refinance loan for your commercial real estate, you'll get a refinance mortgage loan that you do NOT have free prepayment or payout options on. In English, that means if you have a closed mortgage and you all of a sudden want to pay a larger chunk of it back, or you are suddenly able to pay off all of your commercial mortgage before your term's up - you'd have to pay your lender a fee for doing so. It's not a drastic fee, but it ain't free.

But wait - a closed refinance mortgage can be much easier to qualify for than it's opposite, which is the open mortgage. An open commercial refinance mortgage allows you to make prepayments or payout your loan for free. But to qualify for an open mortgage, you need better income/credit/equity than you need to qualify for a closed refinance mortgage.

So what's the verdict? Unless you supremely care about wanting to "pay-off your mortgage sooner for free" - then choose to benefit from the closed mortgage loan's easier qualification standards.

Apply for a refinance mortgage loan now!

Fixed rate commercial refinance mortgage loan

The fixed rate loan is one of the easier types of refinance loans to qualify for. When you ask for a more 'specialty' type of commercial refinance mortgage, like the 'adjustable rate' mortgage for example, you have to have to meet higher qualification standard.

In general, to qualify for most commercial refinance mortgage loans, in a nutshell, you gotta have either good income, good credit or a good amount of equity that you'll be leaving in your commercial real estate.

So to qualify for a special commercial refinance loan type, like the "adjustable rate mortgage" - you'd have to have better income or better credit or a larger amount of equity in your commercial real estate than you would to qualify for the fixed rate mortgage.

Yeah, the adjustable rate mortgage loan has it's perks: but the fixed rate refinance mortgage is easier to qualify for, and if you need easier qualification, it's a better commercial mortgage for you.

Get a commercial refinance loan: just fill out the mortgage application!

Long term commercial refinance mortgage loan

A long term refinance loan is easier to qualify for than a short term loan. What's long? Well, 6 years and up is long. The ceiling for a long term is usually 10 years - but I've seen them be 25 years long.

With a short term mortgage you get a lower rate - but like other specialty types of refinance mortgage loans, it's not so easy to qualify for. Lender's will be more strict about what they consider "good income" or "good credit" or "good equity" or "property income" if you want a short term for your loan.

If you want to easily qualify for a commercial refinance mortgage loan, going for a long term is a great plan. You don't have to go for a 25 year term - just make it 6 to 10 years - and you'll find it hard not to qualify!

Apply for a refinance mortgage now! Fill out the commercial mortgage application.

Combo of all of the above

Although it's not always possible, depending on your refinance situation, you could get make it extremely easy to qualify for a commercial refinance loan by getting this mortgage loan "combo:"

A "fixed rate" "long term" "closed" - refinance mortgage-loan. Phew!

With this type of commercial refinance mortgage loan, you would have a rate that's fixed for your entire mortgage term. And the term length would be anywhere from 10 years to 18 years.

And you would have to pay a fee if you paid off a chunk of your mortgage before that term was up. BUT - It'd be a refinance mortgage type that's sure easy to qualify for!

Get a refinance loan today! Just fill out the commercial mortgage application.

Find out more information about commercial refinance mortgage loans, by contacting The Mortgage Store Online's brokers. Just use the refinance contact form or call them at 1-866-674-0548.

<< return to refinance mortgage loan articles

Commercial refinance mortgage loan articles

apply online | mortgage refinancing | commercial purchase mortgages | equity loans | commercial finance mortgages

commercial loan types | commercial mortgage rates | mortgage calculators | mortgage articles | RSS feed icon commercial mortgage news

home mortgage loans | commercial mortgage loans | calculate mortgage payments | view current mortgage rates

how to use a mortgage | learn about mortgages | privacy policy | disclaimer | RSS feed icon mortgage news & tips

home | contact us | mortgage glossary | about us | site map

The Mortgage Store Online, Inc.
Canadian Head Office: 54 Vansittart Avenue Woodstock, Ontario, Canada N4S 6E4
Home Mortgages: Phone: 1-866-880-2577 Fax: 1-866-270-1984
Commercial Mortgages: Phone: 1-866-674-0548 Fax: 1-866-876-3956

Copyright ©2016 The Mortgage Store Online, Inc. All rights reserved.

 Equal Housing Lender