Field notes from the capital desk.
Plain-spoken explainers on how commercial real estate financing actually works — how deals get underwritten, what drives a rate, and how to close on a timeline that wins. Written for property owners and investors, not for the committee.
- UnderwritingApril 18, 2026 · 8 min read
How a commercial mortgage actually gets underwritten
Underwriting a commercial loan is not a credit score and a gut call. It is a disciplined test of whether the property can pay its own debt — and how far it can fall before it can't.
Read - StrategyApril 2, 2026 · 6 min read
Bridge vs. permanent financing: when speed beats rate
A bridge loan costs more than permanent debt — sometimes a lot more. The question is never which is cheaper. It's whether the deal you're chasing even exists by the time a bank says yes.
Read - FundamentalsMarch 20, 2026 · 6 min read
DSCR explained: the one ratio that decides your loan
If you learn a single number in commercial real estate finance, make it this one. Debt service coverage ratio quietly sets your maximum loan, your rate, and whether the deal happens at all.
Read - FundamentalsMarch 6, 2026 · 6 min read
LTV, LTC, and how much leverage you can really get
Two acronyms decide how much of a deal the lender funds and how much cash you bring. Confusing them — or assuming the headline maximum applies to you — is how borrowers end up short at closing.
Read - MarketFebruary 19, 2026 · 7 min read
The 2025–26 maturity wall: what it means for property owners
A large share of commercial mortgages comes due into a higher-rate market than the one they were written in. If you own income property, the refinance math has changed — and waiting rarely improves it.
Read - GuideFebruary 5, 2026 · 7 min read
SBA 504 vs conventional for owner-occupied property
If your business will occupy the building it's buying, you have a choice most investors don't: a government-backed loan with very low down payment, or a conventional mortgage that closes on your terms. Here's how to weigh them.
Read - PlaybookJanuary 22, 2026 · 6 min read
How to close a CRE loan in weeks, not months
A commercial loan can take three to four months — or a fraction of that. The difference usually isn't the lender. It's whether the work runs in parallel and whether your file is ready before anyone asks.
Read - StrategyJanuary 8, 2026 · 7 min read
What lenders look for in a value-add multifamily deal
Value-add multifamily is one of the most financed plays in commercial real estate — but the loan you need to buy and reposition it isn't the loan you'll hold long term. Knowing the two-step is half the game.
Read - MarketDecember 11, 2025 · 6 min read
Commercial mortgage rates in 2026: what's driving them
There is no single commercial mortgage rate. There's a range that moves with property type, leverage, coverage, and the bond market underneath it all. Here's how to read the spread between the headline and your quote.
Read - PlaybookNovember 20, 2025 · 7 min read
Reading a rent roll the way an underwriter does
A rent roll looks like a list of tenants and rents. To an underwriter it's the source code of the entire deal — the document that drives both the loan size and the property's value.
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