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?
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