Hotel and Motel Mortgages
Get the Best Commercial Rates on Hotel Financing in Canada
Utilize the experience and know-how of Super Brokers. This will help you best plan how to get your hotel and motel mortgages. Your loan can be used for a lot of things. The building of a brand new accommodation property; the refurbishing of an aged motel or inn; the acquisition of a franchise; or a grand-scale renovation.
In any event, Super Brokers can the right financing product to suit your venture’s needs. Moreover, our experienced team has the know-how to help you achieve the financing goals you need and get you the right hotel and motel mortgages.
If your start-up hotel/motel is not part of a recognized chain, financing through a traditional lender or bank might be tough. Super Brokers has access to financing options from syndicated non-bank lenders and real estate financiers. Best of all, the rates are lower than through private commercial lenders.
Investing in a hotel/motel venture is a big step, but one Super Brokers can take with you. For all of your inquiries and financing needs, contact a Super Brokers commercial financing representative today by completing our free and secure commercial financing application.
Hotel and Motel Mortgages 101
In order to qualify for traditional hotel or motel mortgages, the following criteria will usually be taken into consideration:
- A 35 per cent down payment
- Operational expenses and income forecast
- Proof that mortgage will be supported by room rental revenue, not a bar or restaurant located in the hotel/motel
- Close to a major city centre or tourism site
- Condition of the property
The purchase of a hotel franchise or local motel can be a source of investment revenue for years to come. Discuss your plans with a Super Brokers commercial mortgage representative by filling out a commercial mortgage application today.