Commercial is not one product. Each deal type has its own lenders, ratios and documents. Here is the map.
Written by A.I.M.I. Collective Mortgage Group, Brokerage editorial team
Published September 2026 · Last reviewed 11 September 2026
Residential brokers see commercial as a single scary category. Lenders see six or seven distinct asset classes, each with its own appetite, ratios and paperwork. Once you know which type a file is, you know who to call and what they will ask for. Ratios below are typical ranges for conventional lending in Canada and vary by lender, market and borrower.
The most liquid commercial asset. Banks, credit unions and life companies all lend. Conventional: 65 to 75 percent loan to value, debt service coverage around 1.20 to 1.25. CMHC insured multi family goes higher, with MLI Select offering up to 95 percent and amortisations to 50 years for buildings scoring well on affordability, energy and accessibility.
Retail or office below, residential above. Lenders price on the commercial share and the tenant quality. Expect 65 to 70 percent LTV, DSCR of 1.25 or better, and questions about lease terms and vacancy. Credit unions and alternative lenders are the usual home.
A business buying the building it operates from. Underwritten on the business's financials as much as the property. Often the easiest first file for a residential broker because the client is already yours. BDC and the banks compete for these; 65 to 75 percent LTV is typical.
Funds advanced in draws against progress, with a quantity surveyor reporting. Lenders want the takeout plan, presales or a lease up strategy, a contingency and an experienced builder. Interest reserve is common. Private and alternative lenders dominate the smaller end.
Raw land is the hardest asset to finance: no income, and value depends on zoning and servicing. LTV commonly 50 percent or lower, private lenders more often than banks, and the exit plan is the whole conversation.
Farmland and operations. Specialist lenders, Farm Credit Canada and credit unions, with underwriting on the operation's cash flow and the land's productive value. A different world, and worth a specialist partner rather than learning it alone.
Loan to value is the lender's protection if the property is sold. Debt service coverage ratio, net operating income divided by annual debt payments, is the lender's protection if it is not. Almost every commercial decline is one of these two numbers, and a good underwriter can often fix it with structure: a longer amortisation, a second mortgage, a vendor take back or an insured route.
Bring it to the Deal Desk for structuring and lender placement, and learn on the deal without losing it.
Banks and life companies want stabilised income producing property and strong borrowers, and offer the best rates on multi family and quality mixed use. Credit unions are the workhorse for owner occupied, small multi family and local deals, and will talk to a broker they have not met. CMHC insured lenders handle multi family where the borrower wants leverage or long amortisation. Alternative and private lenders take construction, land, transitional properties and anything with a story. The Deal Desk knows which of these will read a given file and which will not, which is most of the value of an underwriter on your first files.
Read next: why commercial scales a book, how the fees work, and the document checklist.
Commercial is a pillar here, not a specialty someone dabbles in. The Deal Desk structures and places the commercial, B and alternative files you would otherwise refer away, while you stay the client's point of contact. It works in exchange for a commission split on that file, it is optional, and it is your call file by file.
There is no separate commercial licence. How residential mortgage agents move into commercial files: the skills, the lenders, how pay works and support.
Why commercial files are the fastest lever for a residential broker at $10 to $30 million, where the files already sit in your book, and how to start.
A practical path for residential brokers into commercial mortgages: which deals to start with, what lenders need and how an underwriting desk helps.
A commercial file at A.I.M.I. Collective, step by step: the first email, the 24 hour Deal Desk review, term sheet, reports, timeline and fee.
Send it to a discovery call. We will tell you the asset class, the lender pool and the likely structure before you spend a week on it.