When applying for a commercial or industrial mortgage, the following may be required: Two different types of identifying cards (IDs), such as a passport, drivers license, citizenship card, social insurance card, credit card, etc. An appraisal of the commercial property conducted by a reputable service provider A site inspection that requires the lender or their representative to visit the site and inspect the property Phase 1 environmental survey Leasing agreements that indicate declared income and revenues Proof of down payment in the case of a new purchase – as well as proof of the source of funds for the deposit (down payment) Proof of additional assets if any, including tax bills, mortgage statements, rental or lease agreements for other properties you own Business license / articles of incorporation NOA – Notice of Assessments or T1 Generals for the last 2 years Current list of tenants and rent rolls Statement of income and expense or a list of expenses associated with the commercial property Statement of current mortgage for investors looking for mortgage renewal or refinancing Property tax bill for investors looking for a mortgage renewal or refinancing Information about the property management company in charge of the day-to-day operations Additional surveys and documentation may be requested depending on your situation and the content of your other documents

Depending on the type of property, you may be required to provide a down payment of between 15 and 35%, with that of pure commercial properties being much higher at about 45 or 50%. For instance, the deposit required for multi-family residential with 5 or more units may be as low as 15%, while that of farmland mortgage may be as high as 45%. Most commercial and industrial mortgages require a down payment of 25%. That said, the deposit required of you will depend on your risk profile.