There are a number of other points that you should consider before choosing a commercial mortgage:

Mortgage fees. The lender may charge up-front loan or processing fees. Check these fees carefully, and try to get an estimate as soon as possible to help you evaluate the mortgage package.

Prepayment. Ideally, you want to be free to pay off the mortgage (all or in part) at any time before its due date. Unfortunately the majority of lenders are likely to charge a redemption penalty in the first 3 to 5 years of the mortgage. But after that initial period, you should make sure that your mortgage agreement gives you this flexibility and try to avoid a prepayment penalty for paying off the mortgage or part of the mortgage early.

Grace period. Try to get a grace period for any payments. For example, the monthly payments may come due on the first day of each month, but they won't be deemed late until the fifth day of the month.

Sale and leaseback. An alternative to mortgaging a property is to enter a sale and leaseback. In this transaction, you would sell the property to a buyer, who would immediately lease the property back to you. In this situation the main advantage is that the buyer would be required to find the financing for the purchase. However you have sold your ownership of the property and you would not share in its appreciation.

Legal and Professional Fees. Before you finalize your purchase and ownership of the property passes to you, you will incur several closing costs above and beyond the cost of the property and fees arranging for the mortgage. Common expenses to be paid at closing are title insurance, the site survey fee and various fees for preparing the legal documents.