When my friend Tom and I were let go from our delivery jobs we thought that we could open our own delivery company and do a much better job than the company that had just let us go. We decided to find a building to work out of first, and then apply for a commercial mortgage.

My brother in law was a commercial mortgage advisor and I knew that he would try and get us the best loan and mortgage rates that we could qualify for. We called and set up a meeting with him, to discuss all of our options. He told us that if we wanted to get a commercial mortgage loan then we would have to put down at least twenty percent of the cost of the building.

If we could get more than twenty percent to put down as a down payment, we could possibly qualify for better mortgage rates and better loans. We were not sure if we could come up with more than twenty percent, but we were going to try.

We ended up putting down twenty five percent for our commercial mortgage loan and that I think was the part that helped us get approved very quickly. We have since closed on our new building and have started to pick up many accounts, even a few which used to use our old company.