DSCR FROM 5.45%BRIDGE FROM 8.25%TERM SHEETS IN 24HLENDING IN 42 STATES
HOME / COMMERCIAL DSCR
Commercial income property, without the bank.
Five-plus unit multifamily, mixed-use, and commercial — qualified on the property's income, your bank statements, or full documentation. Three files, one desk, one written answer in 24 hours.
PROGRAM TERMS
Loan amounts$500K – $10M
Rates from6.75%
Max LTV75% purchase · 70% cash-out
Terms30-yr fixed · 5/7/10 ARM
QualificationDSCR · bank stmt · full doc
VestingLLC, corp, or trust
RECENTLY FUNDED
$3.2MMIAMI, FL
Mixed-use · 1.31 DSCR
Mixed-use · 1.31 DSCR
$1.45MPHOENIX, AZ
Self-storage · 24-mo deposits
Self-storage · 24-mo deposits
$2.4MAUSTIN, TX
12-unit · 5-yr fixed
12-unit · 5-yr fixed
Three ways to qualify. You pick the file.
SAME DESK · SAME 24H ANSWER
PATH 1 · PROPERTY INCOME
Commercial DSCR
The building qualifies on its own rent roll — NOI against the payment. No personal income documentation at all.
BEST FOR: STABILIZED ASSETS, 1.20+ DSCR
PATH 2 · BANK STATEMENTS
Bank-statement program
Twelve to twenty-four months of business or personal deposits stand in for tax returns — built for self-employed sponsors who write everything off.
BEST FOR: SELF-EMPLOYED, HEAVY WRITE-OFFS
PATH 3 · FULL DOCUMENTATION
Tax-return program
Full returns for the sharpest pricing — when your documented income is strong, the file should get credit for it.
BEST FOR: BEST-RATE SHOPPERS, W-2 + K-1
What we lend on
Income-producing commercial and residential-commercial hybrids. If the rent roll is real, we'll price it — stabilized or with a clear path to stabilized.
Multifamily 5+ units
Mixed-use
Retail
Office
Self-storage
Warehouse / light industrial
What to have ready
THE STANDARD COMMERCIAL FILE · PDF OR PHONE PHOTO IS FINE
TO QUOTE — DAY 0
No documents. Just the deal facts — a written term sheet comes back in 24 hours.
Property address & type
Rent roll summary or NOI
Requested loan amount
Preferred qualification path
Ballpark credit score
Start the 60-second fileTO CLOSE — DAYS 1–10
Upload as you go — returning this set inside 48 hours is what keeps day ten on the calendar.
Current rent roll — unit, tenant, rent, lease start/end
Trailing-12 operating statement — income and expenses, any format
Purchase contract or payoff statement
Entity documents & ID — articles, operating agreement, EIN letter
Two months of bank statements — closing funds plus 6 months reserves
Insurance binder — property + liability, lender as mortgagee
Title / escrow contact — appraisal and environmental ordered day one
+ PATH 1 · COMMERCIAL DSCR
Nothing further. The building's income is the file — no personal income documents at all.
+ PATH 2 · BANK STATEMENT
12–24 months of business or personal bank statements in place of returns.
+ PATH 3 · FULL DOC
Two years of personal & business returns, K-1s, and a year-to-date P&L — for the sharpest pricing.
EVERY TERM SHEET SHIPS WITH A FILE-SPECIFIC CHECKLIST — THIS IS THE STANDARD SET.
Underwriting anchors
Commercial files live or die on a handful of numbers. These are ours, stated plainly:
DSCR floor1.20 on in-place NOI
Occupancy85%+, or a costed path to it
RecourseStandard, with usual carve-outs; non-recourse case-by-case
Third-party reportsScoped to the asset — PCA / Phase I where warranted, not by default
RateHolds from signed term sheet through closing
WHAT EACH PATH NEEDS
Property income
Rent roll + trailing-12 operating statement
Bank statements
12–24 months of business or personal deposits
Full documentation
Two years of returns + K-1s, for the sharpest pricing
One desk reads all three — pick the file that flatters your situation, not the one a bank picked for you.
From the closing log
CLOSED · COMMERCIAL DSCR · MIAMI, FL
$3.2M
Corner retail + apartments · 1.24 DSCR
CLOSED · BANK-STATEMENT · PHOENIX, AZ
$1.9M
Self-storage · 24-mo deposits · 5/7 ARM
CLOSED · MULTIFAMILY 12-UNIT · AUSTIN, TX
$2.4M
1.28 DSCR · 30-yr fixed
Common questions
Which qualification path prices best?+
Full documentation, when your returns support it. Bank statements exist for write-off-heavy years; property-income DSCR for pure asset plays.
Apartments over retail — residential or commercial desk?+
Commercial. Anything 5+ units or with a commercial component prices here — one desk, same 24-hour answer.
Which third-party reports will I need?+
Scoped to the asset: PCA and Phase I where the property warrants them, never by default. Appraisal always.
Is non-recourse available?+
Case-by-case at conservative leverage. Standard recourse with the usual carve-outs is the base structure.
The building runs 70% occupied. Dead end?+
No — that’s a path-to-stabilized file: bridge first or DSCR with reserves, depending on how far along lease-up is.
RECENTLY FUNDED
What closing here actually looks like
$140M+
Funded
42
States
68%
Repeat borrowers
CLOSED · COMMERCIAL DSCR · MIAMI, FL
$3.2M
Mixed-use · 1.31 DSCR
CLOSED · BANK-STMT · PHOENIX, AZ
$1.45M
Self-storage · 24-mo deposits
CLOSED · FULL-DOC REFI · AUSTIN, TX
$2.4M
12-unit · 5-yr fixed
“My returns make me look broke on paper. They read the rent roll instead and the file closed on the bank statement path.”
Self-employed sponsor · 3 commercial assets · Phoenix, AZ
PHOTOS: CHUTTERSNAP (UNSPLASH) · DON DASKALO (UNSPLASH) · JACQUES BOPP (UNSPLASH)
Questions we get on commercial
ANSWERED BEFORE YOU HAVE TO ASKWhich qualification path should I use?
Property income if the rent roll carries it — no personal documentation at all. Bank statements if you are self-employed and write everything off. Full documentation when your returns are strong and you want the sharpest pricing. One desk reads all three; pick the file that flatters your situation.
Can my own business occupy the building?
Yes. Owner-occupied commercial is financeable here on a purely commercial basis — your operating company as the tenant, the real estate held in a separate entity, and the loan underwritten on the lease between them. This is the one owner-occupied case we do; owner-occupied residential is not.
What is the minimum occupancy?
85% in place, or a costed path to it with a date. A lease-up story is financeable when the numbers behind it are real — send the leasing pipeline with the file.
Is the loan recourse?
Standard recourse with the usual carve-outs. Non-recourse is considered case by case on stabilised assets with strong sponsors and lower leverage.
Do you always require third-party reports?
No — they are scoped to the asset rather than ordered by default. A property condition assessment or Phase I appears when the asset type or age warrants it, and we tell you at term-sheet stage rather than surprising you in underwriting.
Can I use bank statements instead of tax returns?
Yes. Twelve to twenty-four months of business or personal deposits stand in for returns. This is the path most self-employed sponsors take.
What is the minimum DSCR?
1.20 on in-place NOI. Above 1.25 you are into the better pricing. Below 1.20 it becomes a leverage conversation rather than an automatic decline.
Something not covered here is usually a five-minute call, not a rejection. The full boxes are on the guidelines page.
Send the rent roll. We'll send the terms.
Address, rent roll, and the file type you prefer — written terms within 24 hours.
Get My Term Sheet