Commercial mortgages are structured to meet the needs of the borrower and the lender. Key terms include the loan amount, interest rate, term, amortization schedule, and prepayment. Commercial mortgages are subject to extensive underwriting, due diligence and scrutiny prior to closing. The lender's underwriting process usually includes a financial review of the property (Inspection) and the property owner (or "sponsor"), as well as commissioning of all personal and business documents for review and of various third-party reports, such as an appraisal and or business valuation which the borrower pays upfront before the closing. This ensures that the borrower has provided the required documents and the site has been inspected as well the borrower and their team have been provided a time to promote the project to the valuation inspection team.