There are many small business owners who want to grow their business so they apply for commercial mortgage.  So, if you need commercial financing for putting a foot forward in your business then you  can find lots of mortgage agencies in Toronto that provide you the best mortgage plans for lending money. But there are several factors that can affect your commercial mortgage rates in Toronto so you should determine these factors for getting your mortgage application approval as soon as possible.

Various factors that can affect your commercial mortgage rates
Credit score – your credit score plays an important role in mortgage application approval. So, if you want to get the approval easily then you should also present your credit score. You can hire a broker who will collect your credit details and score and ensure the loan agency that you are able to repay the loan amount. They collect the history of your amount, present loan, past loan repay detail, financial statement, etc. for measuring the credit score.

Bank statement and tax return - lender also sees the profit and loss statement of your business cash flow. If your bank statement is low then there are less chances of loan application approval. Lender can also see your business tax return which proves that you qualify for financial options and get your mortgage amount as soon as possible in your bank account.

Loan amount – when getting the loan amount, you also need to pay attention on the mortgage rate. To ensure easy repayment, you should consider taking the loan at low interest rate. This helps you in repaying the amount with ease in the pre-defined period. Broker helps you to choose the best mortgage plan that meets your requirements and you are also able to pay it with ease.