R. Mike Mullin, CPA, CGA, Commercial Mortgage Broker2023-02-14T11:25:50-08:00

Professional RESIDENTIAL & Commercial Mortgage Brokerage Services

cONVENTIONAL iNSTITUTIONAL & PRIVATE mORTGAGES


R. Mike Mullin, CPA, CGA, Commercial & Residential Mortgage Broker in B.C., Commercial Realtor® & Associate Broker

A Real Estate Investor’s Best Friend !!

A Word to the Wise (From a Commercial Mortgage Broker) !!

If you have a commercial mortgage that is due for renewal in 2023, please contact me ASAP to properly arrange your re-mortgaging at the lowest cost. Today, January 25, 2023, the Bank of Canada raised its Policy Rate by 0.25% for the 8th time since March 2022, bringing the rate to 4.50% from a low of 0.25%. Almost immediately, Canada’s chartered banks raised their prime lending rate by the same 25 basis points from 6.45% to 6.70%. Although commrcial mortgage rates are not a direct function of Cananda’ prime rate, normally all interest rates are interrelated and they too will be rising.

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  • CMHC Insured Multi-Family Residential Mortgages
  • Conventional Multi-Family Residential Mortgages
  • ​​​​​​​​​Mobile and Modular Home Park Mortgages​
  • Land Assemblies
  • Construction & Development Properties
  • Motel & Hotel Properties
  • ​​​Retail Liquor Stores & Pubs
  • ​Mini Storage Facilities
  • Plaza, Office, Retail & Industrial Buildings

The four main types of mortgages

A lady calculating a mortgage with a laptop and calculator on her desk

CMHC INSURED MORTGAGE

Any mulit-family rental building or construction project with 5 suites or more is eligible for a CMHC insured mortgage.

CONVENTIONAL NON-INSURED COMMERCIAL MORTGAGE

These mortgages are, by far, the most common commerical mortgage that is negotiated directly with the lending institution or party.

PRIVATE COMMERCIAL MORTGAGE

There are many varied reasons for a borrower to select a private mortgage. Be it a first, second or third mortgage, the most obvious being necessity as the borrower cannot meet the strict criteria of institutional lenders and/or the private lender’s increased flexibility and shorter approval time. Despite the higher interest rates and fees, if used judiciously, a private commercial mortgage can very advantageous overall.

VENDOR-TAKE-BACK MORTGAGES

Used mainly to facilitate a purchase and sale of a property, with this mortgage the Seller accepts a certain per centage of the financiing with terms negotitiated between the Seller and the Buyer. The mortgage can cover all of the required mortgage after considering the Buyer’s down payment or any agreed per centage of it.

Testimonials

Quick Innovative Thinking

There is no doubt I will be hiring Mike Mullin for further purchases. 2021 was a tumultuous year for real

Integrity & Wisdom

I have worked with Mike Mullin twice in purchasing businesses with property and have found him to be very

Exceptionally Committed

I have met many a realtor, but none like Mike Mullin.  Mike’s background in corporate finance gives him the

True Professional

Mike Mullin has been my commercial realtor and mortgage broker for various multi-family properties over the last three years.

Impeccable

My husband and I were most fortunate to have found you, Mike, as our real estate agent.  Our purchase

Mortgage Expert

Mike Mullin has our support and our strong recommendation for your commercial mortgage and real estate needs. Mike perfectly executed a

Complete Understanding

We are pleased to recommend Mr. Mike Mullin to act as your realtor and if necessary, your mortgage specialist

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