Commercial mortgage prepayment penalties, with the math
Yield maintenance, defeasance and step-down prepayment explained with a worked example, plus which lender types use which and when each one gets cheap.
Guides
Commercial mortgage rates by lender type, with the index and spread behind every number.
How lenders size a commercial mortgage (LTV, DSCR, debt yield)
Commercial lenders run three tests and lend the smallest answer. A worked example on a $10 million property, and why higher rates shrink loans.
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