Commercial / Multifamily
Five units and up, plus every other asset class.
Commercial financing to $100 million for multifamily, mixed-use, retail, office, and industrial property, with bridge, permanent, and construction structures.
What makes this loan different
- Five-plus unit multifamily and all commercial classes
- Bridge, permanent, value-add, and construction debt
- Recourse and non-recourse structures
- Loan amounts to $100 million
Who this is built for
- Investors graduating from residential to commercial
- Sponsors with syndicated equity
- Owners repositioning underperforming assets
Underwriting the asset
Commercial underwriting starts with net operating income and a debt service coverage requirement, usually 1.20 to 1.30. Your personal financial statement and liquidity matter for recourse and guaranty purposes, but the property carries the analysis.
Expect to provide a rent roll, trailing twelve months of operating statements, a capital plan, and a short narrative on the business plan.
Where a broker earns the fee
Commercial appetite shifts constantly by asset class and geography. Running a real process with several lenders in parallel routinely produces better proceeds and spreads than a single bank relationship, and it protects you from a late re-trade.
What lenders typically ask for
- Current rent roll and trailing twelve-month operating statements
- Copies of leases
- Entity documents and operating agreement
- A borrower financial statement and schedule of real estate owned
- Third-party reports — appraisal, property condition assessment, and environmental review where required
Requirements vary by lender and by file. This is a general picture of what is commonly requested, not a checklist for a specific loan.
Worth knowing
Five units makes it commercial.
One to four units is residential financing with residential rules. Five or more moves the property into commercial underwriting, where the property's net operating income rather than the borrower's income drives the loan.
Terms are shorter than residential.
Five, seven, and ten-year terms with balloons are typical rather than thirty-year fixed. Refinance risk at maturity is a structural feature to plan around.
Third-party reports cost real money upfront.
Appraisal, property condition, and environmental reports are paid by the borrower, often before approval is certain. On smaller deals these costs matter to the return.
Recourse is negotiable and consequential.
Whether the borrower guarantees the debt personally, and what carve-outs apply, varies by lender and deal size. It deserves as much attention as the rate.
See what this program would take in your case.
We are brokers — this program is shopped across hundreds of wholesale lenders, not quoted off one rate sheet. A short application gives us enough to compare real options.
Program availability, terms, guidelines, and documentation requirements vary by lender and are subject to underwriting and change without notice. This is not a commitment to lend.