Commercial real estate borrowers heading into a refinance this year face a tighter market than they did two years ago. Before you model anything, it is worth running the numbers through our mortgage calculator and checking where rates actually sit on our interest rates page.
Where the market stands
Origination volume has recovered unevenly across asset classes. The Mortgage Bankers Association tracks quarterly originations, and the New York Fed publishes the household and business credit data most desks use for context. For benchmark yields, the U.S. Treasury daily curve remains the reference point.
What lenders are asking for
Expect tighter debt service coverage tests and more scrutiny of trailing twelve month operating statements. If you want to see which lenders are actively quoting your asset class, browse the lender directory or compare plans on our pricing page.
Frequently Asked Questions
What DSCR do lenders require in 2026?
Most conventional lenders are underwriting to a 1.25x minimum, with bridge and debt fund lenders occasionally accepting 1.15x on a credible lease-up story.
How long does a CRE refinance take?
Sixty to ninety days from application to closing is typical, assuming third party reports are ordered promptly.
Do I need a broker to reach institutional lenders?
No. Borrowers can post a deal directly, though brokers typically reach a wider lender set and negotiate better terms.
What documents should I have ready before applying?
A current rent roll, trailing twelve month operating statement, personal financial statement, and the existing loan payoff quote.