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One of the major differences between typical residential mortgages and typical commercial mortgages is: Commercial mortgages usually restrict prepayment or have some sort of prepayment

One of the major differences between typical residential mortgages and typical commercial mortgages is:

Commercial mortgages usually restrict prepayment or have some sort of prepayment penalty/fee, whereas residential mortgages usually do not restrict prepayment.

Commercial mortgages are never done for a 30 year term whereas this is typical in residential

Only residential mortgages are secured by the property itself

Commercial mortgages are interest only and residential mortgages are amortizing.

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