CRE Loan Requirements
Our commercial loan requires a DSCR of at least 1.15x, a FICO of at least 680, and a loan of up to 75% LTV on occupied multifamily, office, retail, industrial, mixed-use, self-storage, cold storage, hotels, motels and data centers property, all subject to underwriting. Purchase and rate-and-term refinance loans go up to $5,000,000; cash-out refinance loans go up to $5,000,000. Terms run 5-30 years with up to 30-year amortization.
Key loan facts
- Loan amount
- $100,000 to $5,000,000 for purchase and rate-and-term refinance; cash-out refinance up to $5,000,000
- Loan type
- Commercial Real Estate
- Eligible properties
- Multifamily (5+ units), Mixed-use, Retail, Office, Industrial and warehouse, Self-storage, Cold storage, Hotels and motels, Data centers
- Term
- $100,000 to $5,000,000 for purchase and rate-and-term refinance
- Maximum Leverage
- 75%
- Minimum DSCR
- 1.15x
- Minimum FICO
- 680
- Amortization
- 5-30 year term; up to 30-year amortization
Commercial purchase and rate-and-term refinance: up to $5 million. Commercial cash-out: up to $5 million. Residential DSCR: up to $5 million. Fix & flip: up to $5 million. Construction: up to $5 million. SBA loan limits are separate from total project financing. Not eligible: owner-occupied residential. Limits vary by program, property and deal, and we confirm them for each deal.
Lending Guide
What we need for a first look
To issue preliminary terms we typically need the property address, the asset type, the requested loan amount, the purchase price or current value, your business plan and your desired closing timeline. That is enough for preliminary terms, which are an estimate, not an approval.
- Where it fits
- Underwriting documents come later, on the checklist in your portal after a term sheet is issued. Typical items are a photo ID for each guarantor, entity documents, and leases or a rent roll and operating statements, depending on the property.
- Illustrative example
- Illustrative: $230,000 of annual net operating income ÷ $200,000 of annual debt service = 1.15x, which meets the minimum.
- Initial fit check
- Check first: DSCR at or above 1.15x, FICO at or above 680, LTV at or below 75%, a loan within the limit for your purpose, and a property type on the eligible list. Not financed: gas stations, car washes, mobile home parks and religious facilities.
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Lending Guide
Program Details
Eligible Asset Types
- Multifamily (5+ units)
- Mixed-use
- Retail
- Office
- Industrial and warehouse
- Self-storage
- Cold storage
- Hotels and motels
- Data centers
Underwriting Guidelines
- Loan size: $100,000 to $5,000,000 for purchase and rate-and-term refinance
- Cash-out refinance: up to $5,000,000
- Maximum LTV: 75%
- Minimum DSCR: 1.15x
- Minimum FICO: 680
- Occupied commercial real estate only
- Closing in as little as 30 days, subject to underwriting
- 5-30 year term; up to 30-year amortization
- Owner-occupied commercial property can be reviewed as a business-purpose loan; SBA financing is a separate program
- Commercial financing is available in 48 states, not in North Dakota, South Dakota and Washington, DC.
Who This Is For
- Commercial real estate investors and sponsors
Who This Is Not For
- Owner-occupied residential buyers
- Not financed: gas stations, car washes, mobile home parks and religious facilities
Frequently Asked Questions
Ready to start a loan request?
Subject to underwriting, collateral review, borrower qualification, and lender approval. Not a commitment to lend.