Commercial Mortgages in Nova Scotia

What we finance

If it produces income or houses a business, we can likely finance it — across Halifax, Bedford, and all of Nova Scotia:

• Multi-unit residential (apartment buildings, 5+ units)
• Retail — plazas, storefronts, main-street mixed-use
• Office and professional space
• Industrial — warehouse and flex
• Land and development sites

How much you can borrow

Commercial loans are sized on two tests — the property's income (DSCR) and its value (loan-to-value) — and the smaller result usually wins. On lower-income properties, DSCR often caps the loan before LTV does. You can model both on your own deal before we ever talk.

Conventional and CMHC-insured options

For multi-unit residential you often have two paths: faster, simpler conventional financing, or CMHC-insured programs like MLI Select that trade some paperwork for higher leverage, longer amortizations, and lower rates. Choosing the right one usually moves your economics more than shopping rates does.

How the process works

Every file follows the same disciplined path from first look to funding:

• Model the deal — NOI, DSCR, and loan-to-value on the real numbers before anyone talks to a lender
• Package it — rent roll, operating statements, financials, and your covenant, assembled the way lenders want to see it
• Place it — matched to the bank, credit union, CMHC-approved lender, or private capital that fits the asset
• Underwrite and appraise — we manage lender conditions, the appraisal, and any environmental review
• Close — legal, funding, and a clean hand-off, with the takeout or renewal already mapped

Why work with a commercial broker

The right lender for a Halifax multifamily deal is rarely the right one for a South Shore retail plaza. We shop the whole market on your behalf, structure the deal to qualify, and coordinate the lender, appraisal, and legal process end to end — so you can focus on the asset, not the paperwork.

Who leads commercial mortgages at Indi

Riley Oickle leads the commercial division and specializes in creative financing — vendor takebacks, joint ventures, and raising private capital — for the deals that don't fit a single lender's box. He's also an active multifamily investor across several Canadian markets, so he reads a rent roll the way an owner does. Meet Riley Oickle →

How much can I borrow on a commercial mortgage in Nova Scotia?

Most conventional commercial lenders in Nova Scotia lend up to 65–75% of appraised value, with the final amount sized by your property's debt service coverage ratio (DSCR) — typically a minimum of 1.20×–1.30× net operating income over annual debt payments. Whichever test produces the smaller loan usually governs. CMHC-insured multifamily loans can reach materially higher leverage under MLI Select.

What do commercial mortgage rates look like right now?

Commercial rates are quoted deal-by-deal, typically as a spread over Government of Canada bond yields for the chosen term. CMHC-insured multifamily pricing is the lowest tier; conventional deals price higher based on asset class, covenant, and leverage. Contact us for current context on your specific deal type.

How long does commercial financing take to close in Nova Scotia?

A straightforward conventional purchase or refinance typically takes 30–60 days from a complete package to funding. CMHC-insured deals commonly run 60–120+ days including CMHC underwriting. Construction facilities take longer because of appraisal, cost review, and draw setup.

What documents do I need to apply?

Expect to provide the property's rent roll and operating statements (2–3 years), the purchase agreement or existing mortgage statements, personal and corporate financials with a net worth statement, and a lender-ordered appraisal. We package and present the file to the matched lenders.

Do you only work in Halifax?

No — we arrange commercial financing across all of Nova Scotia, including Dartmouth, Bedford, Truro, Sydney, New Glasgow, Kentville, Bridgewater, Antigonish, Yarmouth, and Amherst. Indi Mortgage is licensed in NS, ON, SK, and BC.