Commercial Mortgages?

[Brett Diane]

Does commercial mortgages work like residential mortgages?. I'm looking to buy a commercial property and I want to know how it works, rates, money down, e.t.c?

[Bruce Brown]

Commercial mortgages are completely different than residential. Terms are set by the banks which lend the money and in this market you're generally better off borrowing a commercial loan from a local bank in the market you need the money. There is not an established secondary market like there is for residential mortgages so the terms aren't as standardized. Rates, money down, etc. can vary widely amongst lenders.