Define the property and business plan
Identify property type, location, occupancy, current NOI, purchase or refinance amount, renovation or construction budget, and whether the property is stabilized, transitional, development-stage, or distressed.
Match the lender type
Community and regional banks often serve local stabilized properties and construction. Debt funds and private lenders frequently handle bridge and transitional deals. Life companies focus on high-quality stabilized assets. Agency and HUD lenders serve qualifying multifamily and housing structures. CMBS lenders serve certain stabilized income-producing properties.
Search the structure, not “commercial loan”
Use terms such as multifamily bridge lender, small balance commercial mortgage [state], construction lender [property type], CMBS lender, or private commercial bridge lender [city].
Use local professionals for smaller transactions
Commercial mortgage brokers, CRE attorneys, title companies, investment-sales brokers, developers, and local property owners can identify banks and private lenders that may have little national search visibility.
Compare structure as well as rate
Review recourse, guarantees, amortization, interest-only periods, extension options, reserves, covenants, minimum debt yield or DSCR, prepayment provisions, and required third-party reports.