15 year fixed commercial mortgages are a great idea for most business owners. They can get you the funding that you need to purchase your business property while freeing up your available cash flow for other purchases.

You can apply for this type of mortgage from a variety of commercial mortgage lenders. 15 year mortgages are quite common, so you should have no problem filling out the application and getting the loan, assuming that you are a qualified business owner.

When you are applying for a 15 year commercial mortgage, keep the following in mind:

1. Monthly payments on a 15 year fixed commercial loan are typically higher than those on a 30 year loan. However, due to lower interest rates, you will pay less in the long run.

2. It's usually better to get a fixed rate instead of an adjustable rate. If you have a 15 year fixed commercial mortgage, you know that your payments stay the same over time.

3. If you're not sure whether you can make payments, talk to commercial mortgage lenders. 15 year mortgages are not for everyone and a qualified professional can help you decide what's best for you.

Action Steps to Commercial Loans
The best contacts and resources to help you get it done

Compare 15 year commercial mortgage rates to get the best deal

Any savvy business owners wants to make sure that he or she gets the best deal whenever they make a purchase. With mortgages, a great way to do this is through websites that allow you to compare rates after filling out a simple form.

I recommend: Use the form at MortgageLoan.com to instantly receive quotes on 15 year fixed commercial loans. HSH Associates takes things a step further by showing rates, statistics and trends on their website.

Choose among the lenders of 15 year fixed commercial mortgages

Many banks offer 15 year commercial mortgages to their customers, so you should have no problem finding a lender. Simply talk to bank representatives to see what their programs have to offer.

I recommend: Chase is often a good choice for business lending. They offer long term mortgage loans to qualified business owners. Commercial Direct is a specialist in commercial mortgages and they may be able to offer you great rates. Complete their form to get started.

Refinance your current mortgage to lock in a 15 year commercial mortgage rate

An adjustable rate mortgage can be inconvenient because you never know what your interest rate may be. You can lose money if the rate starts to climb. It's best to refinance into a mortgage that has a low fixed rate so that you can know that your payment will always be the same.

I recommend: Check out the commercial mortgage programs at Wells Fargo and Bank of America. These two large companies have experience with business owners and can help you make the right choices for success.

Tips & Tactics for Getting a Commercial Mortgage

Helpful advice for making the most of this Guide

• •  Don't be afraid to make extra payments on your 15 year fixed commercial loan. If you pay it off ahead of schedule, you'll save money on interest payments.