Compare commercial second mortgage rates of many companies Because the interest rates on a second mortgage are often much higher than the initial mortgage, it's more important to compare rates to ensure you get the best deal. Use a website that allows you to receive quotes from several different companies by filling out a simple form.

I recommend:  Submit the application at C-Loans.com. They can connect you with lenders for different types of loans, including commercial second mortgages. You can also compare loans on MortgageLoan.com.

Apply for a commercial 2nd mortgage through your bank Your bank has a history of working with you, which may make them more likely to offer you a second mortgage. Try this option if you already have significant equity in your first mortgage and need money for repairs or expansion.

I recommend:  Ask your account representative at Wells Fargo or US Bank if a second commercial mortgage is right for you. They will be able to discuss all of your options.

Look for alternatives to commercial 2nd mortgages when purchasing your property One of the most popular ways to use a second mortgage is to make up the difference between the amount you have for a down payment and the amount the bank is willing to loan you. Banks are less likely to do this for commercial properties due to the higher rate of default. A mezzanine loan may be what you need.

I recommend:  Unlike second mortgages, which have nothing to back them up, mezzanine loans rely on your business profits as collateral. The Commercial Lending Group and American Capital are two companies that may be able to help you out.