Date: Fri, 01/19/2018 01:44
I want to take a commercial mortgage soon. I am planning a business with my friend. We will be taking a joint mortgage. As we are new to a business, we have a lot to know about the financing options available.
In a search, I came to read, a commercial mortgage could help us. But
it is said to have some difference with other mortgages. Does anyone know the difference between commercial mortgages with other mortgages? And for a joint mortgage, how would be the monthly payments be divided among the partners?
Is it divided equally between partners or based on the monthly income?
Any idea? Expecting reply. Thank you!