Check back here anytime for the latest updates on today's commercial mortgage rates. Commercial mortgage rates are updated daily on this page. We've included lots of information about commercial loan rates and commercial mortgage trends. We have decades of commercial real estate loan experience. Throughout this site we have included a plethora of information to help commercial real estate investors, such as the commercial real estate loan rates and trends on this page along with so much more helpful information throughout the site.
*Rates start as low as the rates stated here. Your rate will be determined by underwriting.
**Maximum LTV and amortization stated here. Your LTV and amortization will be determined by underwriting.
Commercial mortgage rates are determined by many different factors, including property type, location of the property, loan-to-value ratio, debt service coverage ratio, debt yield, borrower’s net worth, liquidity, credit rating and level of experience. Commercial mortgage lenders look at all of these factors to determine the riskiness of the loan before setting rates. Loans with the lowest risk profile will get the best commercial mortgage rates. As the potential risk increases, commercial mortgage rates usually increase.
Commercial mortgage loans are viewed differently by lenders than residential loans. Home loan lenders look strictly at the borrower’s income and credit in order to qualify. Commercial mortgage lenders look at the subject property’s rent roll, operating statements, and other factors to determine the cash flow or net income potential. Very strong (low risk) commercial mortgage loans might be priced lower than home loans, while weaker performing properties (higher risk) might be priced higher.
Most commercial mortgage loans today are fixed for 5, 7, or 10 years and come with a 25-30 year amortization schedule. Loans can be recourse (personal guarantee) or non-recourse (no personal guarantee). Commercial mortgage loans typically carry prepayment penalties, whereas residential home loans usually do not. Specific terms will be determined by your lender’s underwriting team after your application is reviewed.
Commercial mortgage lenders typically lend up to 75-80% on an apartment purchase (down payment of 20-25% necessary). On other types of commercial property, commercial mortgage lenders will typically lend up to 70-75% (down payment of 25-30% necessary). An exception is for owner occupied business real estate (such as a business owner buying his own property). Owner/users may qualify for up to 90% LTV financing.
Commercial mortgage rates start as low as (as of December 6th, 2025) • A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily, 75% on commercial (90% with SBA)
• Terms and amortizations up to 30 years
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation
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Illinois Apartment Loan Refinance
Apartment loan refinance of a 69 unit apartment complex in Crystal Lake Illinois (McHenry County). The property was in a suburb of Chicago.
NNN Credit Tenant Lease
Cash out refinance of a single tenant net leased property leased to Walgreens Drug Store in St. Louis. Our company specializes in NNN lease loans.
Portfolio of Individual Homes
Refinance of a portfolio of homes: 30 duplexes, 5 singles, 1 four unit in New Orleans LA. We have a specialized loan product for portfolio loans.
Self Storage Mortgage Loan
Commercial mortgage refinance of three self storage facilities located in Georgia and North Carolina. Borrower refinanced for lower rate.
Ohio Commercial Real Estate Loan
Commercial real estate refinance of 29 multi-family properties located in Troy OH. Loan was a blanket loan covering the entire portfolio.
New York Commercial Real Estate Loan
Commercial mortgage refinance of a medical campus in upstate NY. Property consisted of multiple medical buildings leased to a local hospital.
Alabama Office Building Loan
Acquisition financing to assist a buyer with the purchase of single tenant office building in Alabama, leased to a telecommunications company.
Georgia Medical Building Loan
Commercial mortgage loan to refinance a medical office building located in Loganville Georgia. Borrower refinanced to obtain a lower rate.
New York Shopping Center Loan
Commercial mortgage loan to refinance a retail strip center located in Brooklyn New York. The loan was used to buyout one of the partners.
Texas Commercial Real Estate Loan
Commercial refinance of a 27,125 square foot retail shopping center, containing 6 tenants, located in a suburb of Houston TX.
Due to record high inflation, commercial mortgage rates have been increasing throughout 2022 and this is slowing down the commercial real estate loan market. The 10 year treasury, one of the most important benchmarks for commercial mortgage rates, has more than doubled year to date. Entering 2022, the 10 year treasury was at 1.66%. In June of 2022, this index sits at 3.38%.
As the Federal Reserve tries to fight inflation, market experts expect commercial mortgage rates to continue to rise throughout 2022. With rising interest rates, and sellers’ reluctance to lower sales prices, there is a real disconnect between buyers and sellers in the market. Many commercial real estate deals have stalled or blown up due to this disconnect. With commercial mortgage rates climbing over such a short period of time, lenders are having a hard time financing properties at maximum leverage. Most deals are limited by cash flow at much lower LTV ratios than in the past few years. It generally takes some time for sellers to adjust their sales prices as commercial mortgage rates increase. A rise in commercial mortgage rates typically generates a rise in cap rates. When cap rates go up, commercial real estate prices come down. We are hopeful that as time goes on, sellers will become more reasonable about their sales price expectations and commercial real estate activity will continue its rapid recovery from the Coronavirus pandemic.
As commercial mortgage rates continue to rise in 2022, more of the property’s net operating income will be required to make debt payments, creating a potential cash flow shortage for many owners and investors. If commercial mortgage rates continue to rise and cap rates do not follow suit, many deals are simply not financeable and don’t make economic sense to investors. One positive here is that multifamily rents are continuing to rise in many markets. This rent growth may be able to offset the cashflow shortages caused by the increase in commercial mortgage rates. For the last couple years, the market has seen countless property owners refinance in order to take advantage of record low rates. At this point in 2022, there aren’t many people who want to voluntarily refinance. Commercial mortgage activity right now is limited to those owners with maturing commercial mortgage loans and those who need to refinance to access their equity for other purposes. Sales volume has slowed dramatically as potential investors are waiting to see what happens with sales prices.
During the current period of uncertainty, investors and sellers will need to accept lower commercial real estate price growth than we’ve seen in the past few years. Real returns on stabilized properties will be lower than in years past. However, there are still deals out there that make sense for investors. For example, many people are focusing on value-add properties now and looking to maximize annual cash flow returns as opposed to focusing on property appreciation.
The bottom line is that the commercial real estate loan market is facing high levels of volatility in 2022 due to rising commercial mortgage rates. No one really knows how high rates will go, but we are hopeful that as the year goes on and sellers adjust their cap rate expectations, more cash flowing deals will be available to commercial real estate lenders and investors.
Loan to value ratios up to 90% on SBA deals (owner/user commercial properties)
Step down and yield maintenance prepayment penalties
Nonrecourse loans are available
Commercial Mortgage Backed Securities Rates - Updated December 6th, 2025
Loan Product
Rate
Amortization
10 Year Fixed
Up to 30 years
Up to 75% LTV
Loan amounts from $2 million and up
Loans available for apartment buildings, retail shopping centers, office buildings, warehouses and hospitality
Loan to value ratios up to 75% on purchases and refinances
Cash out refinances are acceptable
Interest only loans are available
Loans are non-recourse
NNN Single Tenant Properties / Credit Rated Rates - Updated December 6th, 2025
Loan Product
Rate
Amortization
3 Year Fixed
Up to 30 years
5 Year Fixed
Up to 30 years
7 Year Fixed
Up to 30 years
10 Year Fixed
Up to 30 years
Up to 75% LTV
Credit tenants such as Walgreen’s, CVS, AutoZone, Panera Bread, etc.
Up to 75% LTV for purchases and refinances
Cash out available
Low step-down prepayment penalties
Loan terms up to remaining lease term
Commercial Property Mortgage Rates
Apartment building loan rates are among the best in the commercial mortgage industry. When commercial mortgage lenders set the rates for these types of loans, they are encouraged by the short and long term prospects of the rental housing markets. Due to the lower risk of apartment buildings as an investment class, the rates are very low right now. Of course, the type of loan is only one factor when it comes to determining risk. The borrower’s credit worthiness, property location and property condition and many other factors are analyzed. For more information on what commercial mortgage lenders look for in determining the rate you receive, please see our blog article How to Qualify for the Best Commercial Mortgage Rate.
Fannie Mae Small Balance Apartment Loan Rates - Updated December 6th, 2025
Loan Product
Rate
Amortization
5 Year Fixed
Up to 30 years
7 Year Fixed
Up to 30 years
10 Year Fixed
Up to 30 years
15 Year Fixed
30 years
30 Year Fixed
30 years
Tiered pricing from 55% – 80% LTV
Simplified underwriting for small balance loans
Loan amounts from $1,000,000 - $6,000,000
Loan to value ratios up to 80% on purchases and 75% on refinances
Cash out refinances are acceptable
Pricing based on loan-to-value and debt service coverage ratio:
Tier 2 - 75-80%/1.25x
Tier 3 - 65%/1.35x
Tier 4 – 55%/1.55x
Interest only loans are available
Step down and yield maintenance prepayment penalties
Loans available for apartment buildings, retail shopping centers, office buildings, warehouses and hospitality
Loan to value ratios up to 75% on purchases and refinances
Cash out refinances are acceptable
Interest only loans are available
Loans are non-recourse
Bridge Loan
Call for more information
Business Real Estate Commercial Mortgage Rates
Business mortgage rates for loans secured by a self-employed realestate owner’s remain low for many types of properties, including: hotels and motels, gas stations, convenience stores, laundromats, doctor's and dentist's offices, other professional offices, warehouses, industrial facilities, auto repair, retail stores, self-storage, day care, liquor stores, assisted living facilities, etc. Most of these property types will qualify for loans up to 90% LTV with very attractive business mortgage rates. Physicians, dentists, veterinarians, and other medical professionals may qualify for up to 100% financing for their medical practices, including working capital. Like other types of commercial mortgage loans, the borrower’s credit worthiness and property details will determine the rate and terms of the loan.
Owner Occupied Commercial Mortgage Rates - Updated December 6th, 2025
Loan Product
Rate
Amortization
3 Year Fixed
Up to 30 years
5 Year Fixed
Up to 30 years
7 Year Fixed
Up to 30 years
10 Year Fixed
Up to 30 years
Up to 80% LTV
Step-down prepayment penalties
Loan to value ratios up to 80%, 90% with SBA
Loans from $1,000,000 and up
51% or more of the property to be owner occupied
Small Business Administration Loan Rates - Updated December 6th, 2025
Loan Product
Rate
Amortization
Adjustable
Up to 25 years
5 Year Fixed
Up to 25 years
Up to 90% LTV, 100% possible
Loans for the purchase or refinance of owner occupied properties
Relaxed income and credit qualifying guidelines
Capital available for working capital, equipment, and accounts receivable
Loans up to 90% LTV (100% for certain professional businesses)
Loans from $1,000,000+
Select Commercial has the resources to get you the best terms!
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