Loan purpose
Rate and term refinance, matched to your deal
A rate and term refinance replaces an existing loan with a new one on different terms and returns no cash to the owner, so the balance stays broadly the same while the rate, the amortisation, the maturity or the recourse position changes. It is the structure for taking out a maturing bridge facility, for moving off a short-term loan onto permanent debt, or simply for improving terms on debt that was priced in a different market.
- 5,000+loan programs screened
- 5–8matches on a typical deal
- $0 upfrontto submit and compare offers
- 0.50–1.00%broker fee, paid only at closing
Who is a rate and term refinance actually for?
Owners with debt that is about to mature, debt that was always meant to be temporary, or debt whose terms no longer match the asset. The clearest case is a bridge or construction facility reaching the end of its term on a property that has since stabilised: the asset now supports permanent debt, and the refinance is the planned exit rather than a reaction to trouble.
It also covers owners who simply want a longer runway, a different amortisation profile, or a change in the guarantee structure, and who are not looking to withdraw equity in the process.
What do refinance lenders disagree about?
How they treat the property that secures the loan today versus how it was underwritten originally. Programs differ on the income history they want to see, on how they handle a recently stabilised asset, on prepayment structure, and on recourse. They also take different views on a borrower refinancing out of a loan that is close to maturity, where timing pressure is visible in the file.
How does getting matched actually work?
You describe the deal once — about five minutes — and it is screened against 5,000+ loan programs. Most deals return 5–8 matches, and the median first offer arrives in under an hour. There is $0 upfront; the fee is 0.50–1.00%, paid only at closing.
YieldStack is a commercial mortgage brokerage, not a lender. 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.
- Current income, and how much history there is behind it
- The maturity date on the existing debt and the pressure it creates
- Whether the asset has stabilised since the original loan was written
- Recourse, prepayment structure and the guarantee arrangement
Frequently Asked Questions
What counts as a rate and term refinance?
A refinance that replaces the existing balance and closing costs without returning cash to the owner. If the new loan is written larger so proceeds come back, lenders treat it as a cash-out instead.
Can I refinance out of a bridge loan?
Yes, and it is the most common reason for one. A bridge facility is usually written with this exit in mind, so the refinance is the second half of a plan rather than a new decision.
Does refinancing reset my prepayment penalty?
The new loan carries whatever prepayment structure it is written with, and those structures differ a great deal between programs. The penalty on the loan being repaid is a separate question and belongs in the payoff math.
Can I change from recourse to non-recourse when I refinance?
Sometimes. Recourse is a program rule rather than a fixed feature of the asset, so a refinance is a natural point to test which programs will offer a different structure on the same property.
How much income history do lenders want to see?
It varies by program, and it is one of the main points of disagreement between them, particularly on an asset that stabilised recently. Comparing several is the practical way to find the one whose rule fits the file.
Is a refinance worth it if the rate is similar?
It can be, when the reason is maturity, amortisation, recourse or covenant structure rather than price. Refinancing to extend a runway is a different decision from refinancing to lower a payment.
Is YieldStack a lender?
No. YieldStack is a commercial mortgage brokerage, not a lender. Every term sheet comes from a lender in the network and is subject to that lender's underwriting.
Does it cost anything to see terms?
No. It costs $0 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.
Next step
One deal.Several lenders.
YieldStack is a commercial mortgage brokerage, not a lender.