Wisconsin Commercial Real Estate Loans: Transfer Fee & PACE
What changes for a commercial property loan in Wisconsin: the seller’s transfer fee, the $30 recording fee, judicial foreclosure with a six-month wait and PACE.
| What | Wisconsin |
|---|---|
| Real estate transfer fee | 30 cents for each $100 of value or fraction of $100, imposed on the grantor of the real estate. The register of deeds collects it when the deed is recorded. [1] |
| Loan-side recording cost | A conveyance made solely to provide or release security for a debt or obligation is exempt from the transfer fee, if the debt was not incurred as the result of a conveyance. Recording any instrument costs a flat $30. [2] |
| Foreclosure process and timing | Judicial foreclosure in circuit court. For property other than an owner-occupied 1- to 4-family home, a farm, a church or a tax-exempt nonprofit’s property, the sale cannot be held until 6 months after the judgment — or 3 months if the mortgage (recorded after May 12, 1978) contains the borrower’s agreement to this option and the plaintiff elects in the complaint to give up any deficiency judgment against anyone personally liable on the debt. [3] |
| Deficiency after the sale | The court may not confirm the sale or enter a deficiency judgment until it is satisfied that the fair value of the property has been credited against the mortgage debt. [4] |
| C-PACE law and program | A political subdivision may make loans for improvements such as energy efficiency, water efficiency and renewable energy, repaid as a special charge on the property. The owner must obtain the written consent of all holders of a mortgage of record on the premises. PACE Wisconsin, a commission of participating counties, runs one program for commercial, agricultural, industrial, nonprofit and 5+ unit multifamily buildings. [5] |
Checked 2026-10-14; sources are listed at the end of the page. Rates and rules change — your title company and closing attorney confirm the figures for a specific deal.
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Commercial property loans in Wisconsin use the same programs as every other state — SBA 504, DSCR loans, bridge loans, bank and life-company permanent loans. What Wisconsin changes is a single state transfer fee that the seller owes, a flat recording fee on the mortgage, a foreclosure that runs through court with a fixed wait before the sale, a fair-value check before any deficiency, and a statewide PACE program that needs the mortgage lender's written consent.
One transfer fee, on the seller
Wisconsin charges a real estate transfer fee of 30 cents for each $100 of value, and the statute imposes it on the grantor — the seller in a sale. The register of deeds collects it when the deed is recorded. A conveyance made solely to provide or release security for a debt is exempt, and recording any instrument costs a flat $30, so the borrower's loan-side cost at recording is that fee.
Example: a $2,000,000 commercial building bought with a $1,400,000 loan.
- Transfer fee: $2,000,000 ÷ $100 × $0.30 = $6,000, owed by the seller
- Recording the $1,400,000 mortgage: $30
Across the lake in Michigan, the same sale carries $17,200 in state and county transfer taxes, and in Minnesota the deed and mortgage taxes come to $9,820. For a buyer, the Wisconsin fee shows up mainly in price negotiations with the seller; on a refinance, the new mortgage records for the same $30.
Judicial foreclosure and a fixed wait before the sale
A Wisconsin mortgage is foreclosed through a lawsuit in circuit court, not by a notice-only sale. Once the court enters judgment on commercial property — anything other than an owner-occupied one- to four-family home, a farm, a church or a tax-exempt nonprofit's property — the sheriff's sale cannot be held until six months have passed. That wait drops to three months only if the mortgage contains the borrower's agreement to this option and the lender elects, in its complaint, to give up any deficiency judgment against anyone personally liable on the debt — so read that clause when you sign.
That choice matters for anyone who signed a personal guarantee. If the sale brings less than what is owed, the court cannot confirm the sale or enter a deficiency judgment until it is satisfied that the property's fair value has been credited against the debt. On a non-recourse loan, read the carve-outs that would turn recourse back on. Compared with Michigan, where a sale can follow four weeks of newspaper notice, Wisconsin's wait before the sale is longer — but interest keeps running through the case, so if a sale or refinance is the way out, start early.
PACE: one statewide program and lender consent
Wisconsin's PACE statute lets a county, city, village or town finance improvements such as energy efficiency, water efficiency and renewable energy, repaid as a special charge on the property tax bill. Counties have joined together in PACE Wisconsin, a commission that runs one program for commercial, agricultural, industrial, nonprofit and five-plus-unit multifamily buildings in participating communities — so check first that your county takes part.
The statute's key rule for a borrower: the owner must get the written consent of every holder of a mortgage of record on the property. C-PACE Desk, a BestLoanUSA site, tracks Wisconsin's C-PACE status. If you already have a loan on the building, ask that lender for its consent before you apply.
Where to start
Choose the program — SBA 504 for an owner-occupied building, a DSCR loan or permanent loan for an income property, a bridge loan for a transition — and, as a seller, put the transfer fee in your net proceeds. Size the loan with the commercial mortgage calculator. For financing that isn't tied to real estate, the Wisconsin business loan guide covers SBA offices and state programs.
Ready to compare? Start a commercial real estate loan request — one application, compared across our lender network.
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Sources: Wis. Stat. § 77.22(1) (real estate transfer fee); Wis. Stat. § 77.25(10); Wis. Stat. § 59.43(2)(ag)1.; Wis. Stat. § 846.103; Wis. Stat. § 846.16(2m)(ae) (formerly § 846.165(2)); Wis. Stat. § 66.0627(8); PACE Wisconsin, program FAQ. Checked 2026-10-14.
The bottom line
In Wisconsin the transfer fee is the seller’s: $6,000 on a $2,000,000 building, while the $1,400,000 mortgage records for a flat $30. The bigger difference comes after a default — foreclosure goes through court, and on commercial property the sheriff’s sale cannot happen until six months after the judgment, or three if the mortgage contains the borrower’s agreement to that option and the lender gives up any deficiency. If a PACE project is on your list, get your mortgage lender’s written consent first, because the statute requires it.
Commercial loan rates and terms in Wisconsin
Rates and leverage come from the lender, the property and the borrower, so they are the same national ranges in Wisconsin as elsewhere — what changes here are the closing costs and rules in the table above. Typical terms as of September 2026:
| Program | Rate | Max LTV / LTC | Term |
|---|---|---|---|
| Bank / credit union | 6.5–8% | 65–75% (80% multifamily) | 5–10 yr |
| SBA 504 | 6.25–7.25% | Up to 90% | 10–25 yr |
| SBA 7(a) | 8.5–11.5% | Up to 90% | Up to 25 yr |
| DSCR | 6.75–8.75% | Up to 75–80% | 5–30 yr |
| CMBS | 7–8% | Up to 75% | 5–10 yr |
| Bridge | 6.25–8.25% | 65–80% | 12–36 mo |
| Construction | 6.75–10.5% | 65–80% LTC | 12–24 mo |
How each range is built: commercial real estate loan rates by type.
Wisconsin commercial real estate loan FAQ
What are commercial mortgage rates in Wisconsin?
Commercial lenders price a loan on the property and the borrower rather than the state, so Wisconsin rates follow national ranges: about 6.5–8% for a bank loan, 6.25–7.25% for SBA 504, 6.75–8.75% for a DSCR loan and 6.25–8.25% for a bank or debt-fund bridge loan (benchmarks as of September 2026).
How much down payment do I need for a commercial property in Wisconsin?
Typically 25–35% for a bank loan and 20–25% for a DSCR loan. An owner-occupied building can qualify for SBA 504 with 10% down (15% for a business under two years old or a special-purpose building, 20% if both).
Who pays Wisconsin’s transfer fee on a commercial sale?
The statute imposes the fee on the grantor, so on a sale it is the seller’s cost. At 30 cents per $100 of value, a $2,000,000 sale carries a $6,000 fee.
Does Wisconsin charge a percentage tax when a commercial mortgage is recorded?
The transfer fee is charged on the deed. A conveyance made solely to provide or release security for a debt is exempt, and recording an instrument costs a flat $30, so the $1,400,000 mortgage in our example records for $30.
How long does a Wisconsin commercial foreclosure take after judgment?
For commercial property, the sheriff’s sale cannot be held until 6 months after the judgment is entered. The wait is 3 months only if the mortgage contains the borrower’s agreement to that option and the lender gives up any deficiency judgment against anyone personally liable.
Sources
- Wis. Stat. § 77.22(1)
- Wis. Stat. §§ 77.25(10) and 59.43(2)(ag)1.
- Wis. Stat. § 846.103
- Wis. Stat. § 846.16(2m)(ae) (formerly § 846.165(2))
- Wis. Stat. § 66.0627(8); PACE Wisconsin program FAQ
Checked 2026-10-14.
Run the numbers
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- SBA 504 Loan Calculator Estimate your SBA 504 loan structure — see the three-part split (borrower, CDC, bank), monthly payments for each portion, and total project financing.
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- California Commercial Real Estate Loans: Taxes, Prop 13 & C-PACE What changes for a commercial property loan in California: city transfer taxes, a Prop 13 reset at purchase, trustee-sale foreclosure and the largest C-PACE market.
- Colorado Commercial Real Estate Loans: Public Trustee & C-PACE What changes for a commercial property loan in Colorado: a 0.01% deed fee and no mortgage tax, public trustee foreclosure with a court order, statewide C-PACE.
- Connecticut Commercial Real Estate Loans: Taxes & C-PACE What changes for a commercial property loan in Connecticut: the conveyance tax, entity transfers, court-run strict foreclosure and the Green Bank’s C-PACE.