Loan structure
Commercial mortgages for stabilized property
A commercial mortgage is permanent debt for property that already performs — the building is leased, the income is documented, and the lender is underwriting durability rather than a plan. It is where deals land after a bridge or construction phase, and where the widest range of lender types compete: banks, credit unions, agency programs on multifamily, insurance capital and private credit, each with different appetites for the same file.
- 20,000+loan programs screened
- 5–8matches on a typical deal
- Zero upfrontto submit and compare offers
- 1 hourmedian first offer
When is a deal ready for permanent debt?
When the property’s own history carries the file: occupancy that has settled, income a lender can verify rather than project, and expenses that look like the future rather than the renovation. Permanent lenders buy stability, and pricing improves as the story gets duller. A property that is almost there often does better taking a short bridge and arriving at the permanent market with a full story than forcing a thin file through early.
Why do commercial mortgage quotes differ so much between lender types?
Because the capital behind them wants different things. Banks price relationships and deposits alongside the loan; agency programs on multifamily run on published rulebooks; insurance capital wants duration and quality; private credit wants yield and speed. None of them is “the market” alone — the market is what emerges when several of them quote the same file, which is the entire mechanism a brokerage exists to run.
What does a permanent commercial lender underwrite first?
The in-place income, and whether it holds through the term. A permanent lender reads the rent roll for leases that expire before maturity, the tenants’ credit, the trailing operating statement against the budget, and the cost of re-leasing space that rolls. A property with strong income and a large tenant expiring mid-term can price worse than a weaker property with staggered leases, because the lender is underwriting the refinance it will need at maturity as much as the payment it collects today.
Recourse, prepayment and reserves are the second layer, and they are where commercial mortgage quotes from banks, credit unions, life companies and CMBS conduits diverge the most. YieldStack’s software screens the property and the sponsor against those lender types in one pass; the broker then negotiates the terms that decide what the loan costs to exit, the prepayment structure and the reserves, not only the rate.
How does getting matched actually work?
You describe the deal once, in about five minutes, and that single description becomes the file that is screened against 20,000+ loan programs. Most deals return 5–8 matches, and the median first offer arrives in under an hour. There is Zero upfront; the fee is 0.50–1.00%, paid only at closing.
YieldStack is a commercial mortgage brokerage. The rate, the leverage and the credit decision belong to the lenders competing for your deal; our job is making sure the right ones see it at the same time, so the terms you compare are real competition rather than one desk’s appetite.
What do lenders actually look at?
Every program weighs these in its own way — which is the argument for several quoting at once.
- In-place income and how long it has looked like this
- Tenancy — who pays the rent, on what terms, for how long
- Coverage on the lender’s own stress math, not the broker’s pro forma
- Sponsor balance sheet and what happens in a bad year
Frequently Asked Questions
What property types do commercial mortgages cover?
Stabilized income property broadly: multifamily, industrial, retail, office, mixed-use and single-tenant assets. The lender set differs sharply by type — multifamily has the deepest market, office the most selective.
Fixed or floating?
Both exist, and the right answer follows the hold period and the plan rather than a forecast. A long hold on a stabilized asset argues for certainty; a shorter plan argues for flexibility and prepayment freedom. It is a structural choice worth quoting both ways.
Is a personal guarantee always required?
No — non-recourse structures exist, particularly at larger sizes and on stronger assets, usually with standard carve-outs. Recourse is a term to negotiate, and lender types differ on it predictably.
What does YieldStack do?
YieldStack is an AI-native commercial mortgage brokerage that arranges financing for commercial real estate investors. Every term sheet comes from a lender in the network and is subject to that lender's underwriting. YieldStack (yieldstack.ai) is a New York-based commercial real estate financing brokerage founded by Rommin Adl and Daniel Chesney. It has no connection to yieldstack.co or to any cryptocurrency, token or yield product using a similar name.
Does it cost anything to see terms?
No. It costs Zero upfront to submit a deal and review offers; YieldStack's broker fee is 0.50–1.00% of the loan amount and is paid only at closing.
Is financing guaranteed?
No. Every credit decision is made by the lender; YieldStack arranges the introductions and negotiates on the borrower's side, and no loan, rate, or closing is guaranteed.
Where does YieldStack operate?
Nationwide. YieldStack arranges commercial real estate financing nationwide. Every deal is business-purpose commercial financing, and the broker fee is paid only at closing.
One deal.Several lenders.
YieldStack is an AI-native commercial mortgage brokerage that arranges financing for commercial real estate investors.