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Reasons to get a commercial equity loan

This is the article that will tell you about the main reasons you should get a commercial equity mortgage loan from The Mortgage Store Online.

The main reasons you should get a commercial equity loan is to get a line of credit or to get debt consolidation

Get a line of credit with a commercial equity mortgage loan

The other main reason you should get a commercial equity mortgage loan, is to get a line of credit.

A line of credit is an amount of money made available for you to borrow from whenever you wish. Yes, whenever you wish!

When you get a line of credit with a commercial equity mortgage loan, what you're actually doing is getting a new 'mortgage-loan' on your commercial real estate for a particular amount, say $600,000. But instead of taking $600,000 out of your commercial real estate in cash, you just leave that $600,000 in your commercial real estate and it turns into a sort of 'checking-account' instead.

Then, you can just dip into that $600,000 whenever you need to - and then you only pay interest on the amount you actually use, and only while you're using it. If you took the $600,000 out in cash, you would have to pay interest on that full $600,000 until you completely paid it back.

So a line of credit is a money-saving option as opposed to getting full 'cash out' with a commercial equity mortgage loan, especially if you don't need to use the entire amount of equity in your commercial real estate all at once.

If you get a line of credit by getting a commercial equity loan - that line of credit can come in super-handy. It can act as a safety blanket for you in case of financial emergencies. And you can get a line of credit with a commercial equity loan, far cheaper than you can get a regular line of credit from a bank.

Apply for a commercial equity loan now! Fill out the mortgage application.

Get debt consolidation with a commercial equity mortgage loan

The main reason for you to get a commercial equity mortgage loan is to get "debt consolidation." What's debt consolidation?

Debt consolidation is when you take two or more 'debts' or 'bills' that you've got (like credit card bills, bank loan debts, car financing bills etc.) and you get another larger loan from somewhere to pay of all of your smaller debts/bills.

You can use a commercial equity mortgage loan to do this 'debt consolidation thing.' In order to consolidate your debts with a commercial equity loan, you'd get a new mortgage-loan (the 'equity loan') on your commercial property so you can get 'cash-out' of that property. Then you'd take that cash and pay off all of your smaller credit card and other loan debts.

When you get debt consolidation with a commercial equity mortgage loan, instead of having multiple debts, you'll have one easy-to-pay commercial equity loan instead! It's way less stressful to attend to a single mortgage-loan payment each month than have multiple bill due dates buzzing around in your brain all the time.

Using a commercial equity loan for debt consolidation will also save you money. Credit card rates, bank loan rates and car financing rates can be waaaay higher than commercial equity mortgage loan rates.

By consolidating your bill payments into one easy mortgage payment, you'll save tons of cash with a lower interest rate.

Could you use a bank loan to consolidate your debts instead of a commercial equity mortgage loan? Yeah, but you'd pay a way higher rate for a bank loan than you would for a commercial equity loan.

Get a commercial equity loan today! Just fill out the commercial mortgage application.

Want to learn more about commercial equity loans? Contact The Mortgage Store Online's brokers by using the commercial equity contact form or by calling them at 1-866-674-0548.

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