Commercial Mortgages:

Property Type: Commercial mortgages are used to finance properties intended for commercial purposes, such as office buildings, retail centers, hotels, industrial properties, and apartment complexes with five or more units.
Purpose: These loans are primarily used by businesses and investors to acquire or refinance income-generating commercial properties, aiming to generate rental income or profits.
Loan Terms: Commercial mortgages typically have shorter loan terms, usually ranging from 5 to 20 years, with a balloon payment due at the end of the term. Interest rates can be fixed or variable.
Down Payment: Lenders generally require a larger down payment, often in the range of 20% to 30% of the property's value.
Qualification: Lenders consider the borrower's financial strength, the property's income potential, and the borrower's experience in managing commercial properties.