Finding the right lender is the most consequential financing decision. This guide compares every major CRE lender type in 2026.
Banks
5.75%-7.25%. Up to 80% LTV. Full recourse. Best under $10M.
Credit Unions
5.50%-6.75%. 25-50 bps lower than banks. Best under $5M.
Life Companies
5.50%-6.75%. Lowest rates. 55-65% LTV. Non-recourse. Best for institutional assets.
CMBS
6.00%-7.25%. 75% LTV. Non-recourse. Assumable.
Agency
5.25%-6.00%. Multifamily only. 80% LTV. Non-recourse. Best rates for apartments.
SBA
5.00%-6.50% blended. 90% LTV. Owner-occupied only.
Bridge/Debt Funds
8.00%-14.00%. Fast close. Best for value-add.
Trevor Damyan is a commercial mortgage broker at Commercial Lending Solutions with a background in structured finance at CBRE and Marcus and Millichap Capital Corporation. He specializes in bridge loans, construction financing, SBA programs, DSCR loans, and complex capital structures for investors and developers across all 50 states.
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