Commercial & mixed-use
Commercial and mixed-use loans for investors.
Financing for five-plus unit multifamily, mixed-use, office, and retail properties, as permanent financing or commercial bridge.
How it works
Bigger buildings, a different underwriting box.
Once a property passes four residential units, or mixes residential with commercial space, it leaves residential lending guidelines behind. Five-plus unit multifamily, mixed-use buildings, office, and retail are underwritten as commercial real estate.
Commercial lenders look harder at the property's operating history: rent rolls, operating statements, occupancy, and the market. Expect a survey on five-plus unit and commercial collateral.
Commercial loans are structured case by case, and the lender pool is different from residential investor lending. We work with commercial lending partners who run their own process, and we'll tell you up front whether your deal fits it.
If the building is a small mixed-use property or a five-to-nine unit, ask us first. Some residential investor programs reach into that range, and they can be simpler and cheaper.
Typical terms
What to expect on a commercial loan.
- Property types
- 5+ multifamily, mixed-use, office, retailUnderwritten as commercial real estate.
- Structure
- Permanent or bridgeLong-term debt or short-term commercial bridge.
- Underwriting
- Operating historyRent roll, operating statements, occupancy, and market.
- Terms
- Case by caseSet by property, market, and sponsor.
These are typical ranges across the lenders we place with, not a quote. Your actual rate, leverage, and terms depend on the property, your credit and experience, and the lender.
Is it the right loan
Who this fits, and who it doesn't.
Investors stepping up in size.
- Five-plus unit apartment buildings
- Mixed-use buildings with retail or office below residential
- Stabilized properties with a rent roll and operating history
- Investors moving up from single-family and small multifamily
Where it gets harder.
- Owner-occupied business property
- Special-purpose properties with thin comparable data
- Buildings with no operating history and no clear business plan
What we need
What a commercial file needs.
- Property address, purchase price or payoff
- Current rent roll
- Trailing operating statements and the current year's budget
- Leases for commercial tenants
- Survey
- Your real estate schedule and experience
- Entity documents, photo ID, and bank statements
Send the building
Address, units or square footage, rent roll, and what you're trying to do.
We qualify the fit
Commercial or residential investor program? We point it to the right process.
Structure and close
Terms set on the property and the plan, with a timeline in writing.
Questions
Commercial loan questions.
Is a five-unit building residential or commercial?
What do commercial lenders look at?
Do you finance mixed-use buildings?
What are the rates and terms?
Other loan types
Not quite the right fit?
Looking at a bigger building?
Two minutes to tell us what you're working on. No application fee, no credit pull to get a conversation started.