Commercial mortgage

What's a commercial mortgage?

A commercial mortgage helps businesses purchase or refinance properties like offices or warehouses.

What is it for?

A commercial mortgage is ideal for buying or upgrading business properties like office spaces, retail outlets, or warehouses. It’s a smart way to invest in your business growth while spreading costs over time.

Use your mortgage for:

Multi-unit residences
Industrial properties
Other commercial properties

Our mortgage products

Variable rate mortgage

Interest rate adjusts based on the Prime Rate

BCU Prime Rate

The BCU Prime Rate is the benchmark interest rate used by BCU Financial for variable-rate loans, adjusting with the Bank of Canada's rate changes. It's usually 1.5 to 2.5 percentage points higher than the lending rate set by the Bank of Canada.
Payments may adjust every 3 months with rate changes
Lower initial interest rates compared to fixed rates
Potential for lower payments if rates decrease
Payments increase if rates go up
Flexible option for those who are comfortable with rate changes

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Fixed rate mortgage

Interest rate stays the same for the entire term
Monthly payments are predictable and consistent
No surprises, even if market rates change
Secure a fixed rate for 1, 2, 3, 5 years, or more
After the term ends, renew or refinance with a new rate
Ideal for those who prefer stability and predictability

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Open and closed mortgage: what's the difference?

	Closed mortgage	Open mortgage
Best for	Those who don’t expect to pay off early	Those who want flexibility and plan to pay off faster
Prepayment flexibility	Limited to 20% of the original principal per year	No limits; repay any amount at any time
Penalty for early repayment	Yes, for amounts over the limit	No penalty for lump sum or accelerated payments
Payment increase	Can increase payments by 20% once per year	No restriction on payment increases

Need professional advice?

We are here to help with all your questions!

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Elevate your business to the next level

Enjoy competitive rates

Access a variety of investment options to spread your risk and maximize returns.

Avoid hidden fees

Transparent fee structure means you know exactly what you’re paying for, with no surprise costs.

Get expert business guidance

Connect with local advisors who understand your market and help make smarter financial decisions.

Your mortgage
application
made easy

Please note!

Each application is unique with it’s own circumstances. For your individual case we advise you to speak to our Financial Services Officers

Complete the application

Fill out the mortgage application form with your employment details, income, assets, and debts. This information helps BCU assess your financial situation and determine your borrowing capacity.

Submit credit information

Provide consent for BCU to obtain your credit report. This report evaluates your creditworthiness and helps establish your mortgage terms, including interest rates.

Receive pre-approval

Get a pre-approved mortgage rate and amount for up to 60 days, simplifying your home search.

Finalize your mortgage

Once you find a property, complete the mortgage process by providing any additional documentation and closing on your new property.

Please note!

Each application is unique with it’s own circumstances. For your individual case we advise you to speak to our Financial Services Officers

Take a step to expansion
with BCU commercial mortgages

Book an appointment

Questions? We got answers!

Browse more FAQs

What types of properties can I use a commercial mortgage for?

A commercial mortgage can be used for various types of properties, including office buildings, retail spaces, industrial facilities, and multi-unit residential properties. Whether you’re purchasing, refinancing, or expanding, the mortgage is tailored to suit your business needs. Specific eligibility depends on factors like property type, location, and financial standing.

What is the minimum down payment required?

The minimum down payment for a commercial mortgage depends on the type of property and your financial profile. Typically, you’ll need at least 25% to 35% of the property’s value as a down payment. Specific requirements may vary based on the loan structure and risk assessment.

Can I refinance my commercial mortgage later?

Yes, you can refinance your commercial mortgage later, depending on your financial situation and the terms of your existing loan. Refinancing can help lower your interest rate, adjust your repayment terms, or access equity for business growth. Eligibility and options will depend on factors like property value, loan balance, and creditworthiness.

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