Commercial real estate financing, explained by the deal team that places it: loan structures, lender types, markets and the numbers behind an offer.
The Treasury yields DSCR quotes are priced from fell more than a third of a point in October 2026 while the Fed held at 3-3/4 to 4 percent. Here is the dated tape, which parts of a DSCR quote moved, and a checklist for quotes issued in October.
DSCR Loans · · 10 min read
Prime held at 7.00% through its October 27 print and SOFR rose 0.05 point to 3.95% on October 30, per FRED, after the FOMC held its range on October 28. Prime-based construction carry was unchanged; SOFR-based carry rose about $42 a month per $1 million drawn.
Construction Loans · · 10 min read
Fixed-rate multifamily benchmarks fell in October 2026 while the floating index edged up. According to FRED, the 10-year Treasury went from 5.29% (Sept 30) to 4.98% (Oct 29) and SOFR from 3.90% to 3.95% (Oct 30), with the Fed holding at 3-3/4 to 4 percent. A dated record by lender type.
Multifamily Financing · · 9 min read
Prime held at 7.00% through October 2026 after the Fed kept its target range at 3-3/4 to 4 percent, so variable 7(a) loans saw no new reset, while the 10-year Treasury behind the 504 debenture fell from 5.29% to 4.98%. The dated October record for owner-user SBA borrowers.
SBA Loans · · 9 min read
The Fed held at 3-3/4 to 4 percent on October 28, 2026, so prime stayed at 7.00% and SOFR near 3.94%. Fixed quotes followed the 10-year Treasury, which hit 5.05% on decision day and eased to 4.98%. Here is what moved for each lender type.
Market Insights · · 10 min read
Finance electrified IOS as an outdoor storage loan with a capex line: lenders count the land and the signed lease, fund the power upgrade only against a tenant paying the premium, and want the utility commitment in writing first.
Industrial Financing · · 11 min read
Cash flow decides it: the property's NOI must clear the lender's DSCR minimum and the loan must fit that lender type's LTV cap. Freddie Mac's April 2026 fixed-rate terms set 1.25x and 75% to 80%; bank ceilings reach 85% on improved property; SBA 504 needs at least 10% down. Equity, reserves, experience and a complete file decide the rest.
Commercial Lending · · 9 min read
Yes, slowly. Per the Fed's H.8 release of October 30, 2026, bank CRE loans were $3,151.0 billion in the week ending October 21, and the September average was 3.7% above a year earlier, led by multifamily and nonfarm nonresidential loans while construction stayed flat.
Market Insights · · 9 min read
Your commercial loan survives with its terms intact: a failed bank's loans go to the acquirer or are sold by the FDIC, typically within a few months, and a merged bank's successor takes over under your loan documents. The risk is operational: payments, escrows, undrawn construction draws and who decides at maturity.
Commercial Lending · · 11 min read
Church loans qualify on documented giving, not the building: three years of primary income, a steady giving-unit count, and debt service small against gross receipts size the loan, and a special-purpose appraisal caps it.
Financing Guides · · 10 min read
DSCR loan closing costs are points, lender fees, appraisal, title, prepaid interest, impounds and any broker fee; our illustrative $400,000 loan totals about 4.0–4.5%. Business-purpose credit carries no Loan Estimate, so negotiate points, lender fees and title on the term sheet before you sign.
DSCR Loans · · 10 min read
Yes. Since October 14, 2026, HUD's Mortgagee Letter 2026-12 lets build-to-rent communities of detached homes, duplexes or triplexes use 221(d)(4) for new construction and 223(f) within three years of the certificate of occupancy, if the community is one contiguous, professionally managed rental property with no lot sales.
Construction Loans · · 14 min read
Yes, but mostly on feasibility. NMHC's Q3 2026 survey found 29% of developers starting fewer apartment projects, up from 20% in June, while bank construction standards held steady at the tight end of their range. Here is what lenders test first and which structures close the gap.
Construction Loans · · 12 min read
Lenders credit an above-market industrial lease only until it expires, then size the loan and the appraisal on market rent. With Los Angeles County asking rents 30.4% below their 2023 peak in CBRE data, an early renewal or a paydown often decides the deal.
Industrial Financing · · 12 min read
Yes, if the leases carry the loan. Fed reports show suburban office outperforming urban in Maryland and Virginia, and office originations rose 47% year over year in Q2 2026, but lenders still haircut near-term rollover and size on in-place income.
Office Financing · · 12 min read
Yes, on agency and most institutional loans. Freddie Mac requires a zoning report unless the loan is $20 million or less and the appraisal carries the zoning analysis, and Fannie Mae's guide bars delivery of a legal non-conforming use with a destruction threshold under 50%.
Commercial Real Estate · · 13 min read
Florida owner-users can buy with an SBA 504, an SBA 7(a) or a bank loan. The 504 asks at least 10% down on a standard deal, and Florida taxes the debt at 35 cents per $100 plus 2 mills, $5,500 on a $1 million loan. Price both routes from one brokerage submission.
SBA Loans · · 12 min read
Usually yes. A broker sends one packaged hard money file to several private lenders and negotiates points, exit fees and draw terms. Go direct when a repeat lender already knows you, and walk away from anyone who wants a fee for a promised loan.
Hard Money Loans · · 12 min read
Only as a short bridge after cheaper fixes fail. In Texas the lender takes the taxing units' lien, which the OCCC says keeps priority ahead of a purchase mortgage and is foreclosable. Non-residential property tax loans averaged $48,836 at 13.41% in 2024, while penalty and interest on unpaid 2025 taxes reach 21% in October 2026.
Commercial Lending · · 12 min read
Banks and credit unions, bridge lenders and debt funds, SBA 504 lenders and C-PACE capital providers all fund commercial renovations. The building's occupancy and stabilization decide which fits, and each releases the money differently, from inspected draws to a 504 debenture issued after the work is complete.
Commercial Lending · · 13 min read
The best commercial real estate loan in Alabama is the lender type whose published rules fit your deal. This guide from YieldStack, our top pick for brokerage, starts with the brokerage option, compares banks, SBA, agency, CMBS and bridge lenders, and works Alabama's 20% commercial assessment ratio and $.15-per-$100 mortgage tax into the numbers.
Guides · · 15 min read
A lender-type guide to Evansville commercial real estate loans for retail, industrial, medical office, construction and apartments, with Indiana's 3% and 2% property tax caps, 2026 Evansville district tax rates, HUD Fair Market Rents, county permits and the October 2026 rate tape. Our top pick, YieldStack, publishes this guide.
Commercial Real Estate · · 13 min read
The best Kansas City commercial real estate loan is the lender type that fits the plan, and our pick, as this guide's publisher, is a brokerage that prices them side by side. This guide covers dated lender terms, Missouri versus Kansas assessment, Chapter 353 abatement, Kansas industrial revenue bonds and the October 2026 rate tape.
Guides · · 13 min read
Las Vegas, Henderson and North Las Vegas commercial real estate loans by lender type: banks, SBA 504, DSCR and bridge lenders, and what each needs. YieldStack, which publishes this guide, is our top pick for AI-native commercial mortgage brokerage. Plus Clark County's 8.0% 2026-27 tax cap, FY2026 HUD rents and the October 2026 rate tape.
Commercial Real Estate · · 13 min read
A city guide to New Orleans commercial real estate loans by lender type, from bank term loans and SBA 504 fixed asset loans to agency and bridge debt, with YieldStack, the publisher, as our top pick for AI-native commercial mortgage brokerage. It shows how flood zones, insurance, Orleans Parish taxes and the Restoration Tax Abatement move the loan.
Commercial Real Estate · · 13 min read