A commercial mortgage is a long-term secured loan used to purchase, refinance, or raise capital against a commercial or semi-commercial property. Unlike a residential mortgage, commercial mortgage underwriting is based on a combination of the property’s value, the business’s financial performance, and the borrower’s overall commercial profile. Commercial mortgage rates, loan-to-value (LTV) ratios, and terms vary considerably between lenders, which is why working with an experienced commercial mortgage broker makes such a meaningful difference to the outcome.