Popular

     Get funded

    Commercial Real Estate Loan Programs Compared

    Compare bank, SBA, agency, CMBS, DSCR and bridge lenders for your property in one application — with one advisor from first call to closing and $0 upfront.

    See my loan options Free calculators
    CRE loan rates, September 2026 10-yr Treasury 5.18% · SOFR 3.88% · Prime 7%
    1. SBA 504 6.25–7.25%
    2. Agency multifamily 6.25–7.25%
    3. Bank CRE 6.5–8%
    4. CMBS 7–8%
    5. DSCR 6.75–8.75%
    6. Bridge 6.25–8.25%
    7. Construction 6.75–10.5%
    8. Hard money 9–13%
    How CRE rates are set

    CRE loan programs compared

    ProgramRate rangeMax LTV / LTCTerm
    Fix & Flip Loans9–13%80–90% LTC12–36 mo
    Investment Property6.5–8.75%Up to 75–80%5–30 yr
    Land Loans7.5–11.5%50–70%1–5 yr
    Owner-Occupied6.25–8%Up to 90% (SBA)Up to 25 yr
    Tenant Improvement6.25–8.75%Up to 90% LTC (SBA)5–25 yr
    Cash-Out Refinance6.5–8.75%Up to 75% (90% SBA 504)5–30 yr
    Hard Money Takeout6.25–8.75%Up to 75%5–30 yr
    Permanent Financing6.25–8%75–80%5–30 yr
    CRE Refinancing6.25–8.75%Up to 75% (90% SBA 504)5–25 yr
    Blanket Loans6.5–8.75%65–75%5–10 yr
    Bridge Loans6.25–8.25%65–80%12–36 mo
    CMBS Loans7–8%Up to 75%5–10 yr
    Construction Loans6.75–10.5%65–80% LTC12–24 mo
    DSCR Loans6.75–8.75%Up to 75–80%5–30 yr
    Mezzanine Financing11–16%75–90% combined2–7 yr
    SBA 504 Loans6.25–7.25%Up to 90%10–25 yr
    SBA 7(a) Loans8.5–11.5%Up to 90%Up to 25 yr

    Typical ranges, updated September 2026. Your terms depend on the property, the borrower and the lender.

    Buy, build or invest

    Financing matched to what you are doing with the property.

    Refinance

    Replace, restructure or pull equity from a loan you already have.

    Loan programs

    The loan structures lenders offer, and when each one fits.

    Guides & rates

    How CRE lending works, what lenders ask for, and today’s rates.

    Which CRE loan fits your deal?

    Start from what you are doing with the property. Most deals fit one of these ten situations.

    1. 01 Buying a building your business will occupy SBA 504 also SBA 7(a), owner-occupied bank loan From 10% down and up to 25 years, fixed on the SBA portion — your business must use at least 51% of the building.
    2. 02 Buying a stabilized rental property Permanent financing also CMBS, DSCR Bank, life company and agency loans price off Treasuries and size the loan on the property’s net operating income.
    3. 03 Qualifying on the property’s rent, not your tax returns DSCR loan also investment property loans The rent has to cover the payment; personal income documents are lighter. Closes in about 21–35 days.
    4. 04 Renovating, leasing up or closing fast Bridge loan also hard money takeout Short-term and usually interest-only, sized on the plan; closes in about 14–30 days. Plan the exit refinance from day one.
    5. 05 Buying to renovate and resell Fix & flip loan also bridge loans Private lenders fund the purchase and the rehab budget in draws; closes in about 7–21 days.
    6. 06 Building from the ground up Construction loan also land loans, SBA 504 (owner-occupied) Funded in draws against the budget (up to 65–80% LTC), interest-only for 12–24 mo, then refinanced or converted to a permanent loan.
    7. 07 A loan maturing, or a lower rate available Refinancing also cash-out refinance Start 6–12 months before maturity; prepayment penalties and today’s DSCR decide what the new loan can be.
    8. 08 Pulling equity out of a property you own Cash-out refinance also blanket loans Usually up to about 75% of today’s value at a bank or DSCR lender, as long as the rent still covers the larger payment.
    9. 09 Financing several properties at once Blanket loan also portfolio DSCR One loan, one closing across the portfolio — ask for release clauses so you can sell one property without refinancing all of them.
    10. 10 Filling the gap between the first loan and your equity Mezzanine financing also construction loans Costs more (11–16%) but cuts the cash you put in; the first-mortgage lender has to agree to it.

    How CRE loan rates are set

    Most commercial loans are priced as a spread over a market index. Fixed rates follow the 5- or 10-year Treasury, floating rates follow SOFR or Prime — so when the index moves, the whole range moves with it.

    • 10-yr Treasury5.18%
    • 5-yr Treasury5.03%
    • SOFR3.88%
    • Prime7%
    ProgramPriced asRange todayHow it works
    Bank / credit union, 5-yr fixed 5-yr Treasury + 1.5–3% 6.5–8% Fixed for 5 years, then resets or refinances
    SBA 504 (SBA portion) 10-yr Treasury + 1–2% 6.25–7.25% Fixed for 10–25 years; set at the monthly debenture sale
    Agency multifamily 10-yr Treasury + 1.1–2% 6.25–7.25% Fixed or variable, 5–30 years; apartments only, non-recourse
    Life insurance company 10-yr Treasury + 1.2–1.8% 6.5–7% Fixed; low leverage, strongest properties
    CMBS, 10-yr fixed 10-yr Treasury + 1.75–2.75% 7–8% Fixed; non-recourse, defeasance or yield maintenance
    DSCR investor loan 10-yr Treasury + 1.5–3.5% 6.75–8.75% Fixed or hybrid; priced on DSCR, leverage and credit
    SBA 7(a) Prime + 1.5–4.5% 8.5–11.5% Usually variable; SBA caps the spread by loan size
    Construction, bank SOFR + 2.75–4% 6.75–8% Floating during the build
    Bridge, bank SOFR + 2.25–3.25% 6.25–7.25% Floating, 1–3 years
    Bridge, debt fund SOFR + 2.75–4.25% 6.75–8.25% Floating; higher leverage than a bank
    Private / hard money All-in rate, not tied to an index 9–13% Priced on the property and the speed; 6–24 mo, usually interest-only
    Mezzanine All-in rate, not tied to an index 11–16% Second position behind the first mortgage, so priced higher

    Benchmarks as of September 2026 (Federal Reserve data); ranges are typical for a solid borrower and property and are reviewed quarterly. Lenders quote fees, prepayment terms and rate locks with the rate — compare all of them. How much SBA actually lent, by state and industry: SBA Lending Report. Full rate guide →

    Commercial real estate loans by state

    The loan programs are national; closing costs, foreclosure rules and C-PACE change at the state line. Each guide puts those facts in one sourced table.

    City guides: Los Angeles · New York City · Philadelphia

    Compare all 50 states and DC →

    Latest commercial real estate guides

    All articles →

    How it works

    1. Apply once Tell us about the property and what you are financing. No rent roll, T-12 or appraisal to start, and no hard credit pull.
    2. Talk to an advisor An advisor contacts you within one business day, confirms the deal and names the loan programs that fit.
    3. Lenders compete Your file goes to the matched lenders among 30+ banks, credit unions, SBA, CMBS, DSCR and bridge lenders.
    4. Compare term sheets Rate, leverage, fees, prepayment and recourse side by side, in writing, with our compensation shown before you sign.
    5. Close The lender underwrites, orders the appraisal and closes — typically 30–45 days for a bank loan and 60–90 days for SBA 504.

    When a loan closes, BestLoanUSA may receive part of the broker fee paid on that loan. You never pay us to apply or to get advice.

    Frequently asked questions

    Which commercial real estate loan is right for my property?

    Start with how you will use the building. If your business will occupy at least 51% of it, SBA 504 or SBA 7(a) usually gives the lowest down payment. For a stabilized rental property, compare a bank or life company loan, CMBS and a DSCR loan. A property that is being renovated, leased up or bought quickly fits a bridge loan, and a new building a construction loan.

    What are commercial real estate loan rates today?

    As of September 2026: SBA 504 6.25–7.25%, agency multifamily 6.25–7.25%, bank loans 6.5–8%, CMBS 7–8%, DSCR loans 6.75–8.75%, bridge loans 6.25–8.25% and hard money 9–13%. Fixed-rate loans are priced as a spread over the 5- or 10-year Treasury (10-year at 5.18%); floating loans over SOFR (3.88%) or Prime. Your rate within the range depends on leverage, DSCR, the property and the sponsor. Full rate guide.

    How long does it take to close a commercial real estate loan?

    From a complete application: about 30–45 days for a bank loan, 21–35 days for a DSCR loan, 30–60 days for SBA 7(a), 60–90 days for SBA 504 and 45–90 days for CMBS. Bridge lenders can close in 14–30 days and private lenders in 7–21 days. The appraisal, third-party reports and how quickly you send documents set most of the timeline.

    How much down payment do I need for a commercial property?

    SBA 504 needs 10% for an established business buying a building it will occupy (15% for a newer business or special-purpose building, 20% for both). Bank loans on investment property usually need 25–35%, and DSCR loans 20–25%. Lenders also check that the property’s income covers the payment, which can require more down than the loan-to-value cap alone.

    What credit score do I need for a commercial real estate loan?

    Banks and SBA lenders usually look for 680+; SBA itself sets no minimum score. DSCR lenders often work from 660+, bridge lenders 640+ and private lenders 620+. CMBS lenders focus mainly on the property. A stronger property — higher DSCR, lower leverage — can offset a lower score.

    Is BestLoanUSA a lender?

    No. BestLoanUSA is a commercial loan advisory: we compare offers from 30+ lenders for your deal, and the lender makes the credit decision and funds the loan. Applying and advice are free; when a loan closes, we may receive part of the broker fee paid on it, disclosed in writing before you sign.

    Apply your CRE loan in 1 minute

    Tell us about the property and what you're financing. No rent roll, T-12, or appraisal needed to start.

    See my loan options