Commercial mortgage loan sizer
Put in the property's value and its net operating income. The sizer applies the chosen lender type's limits and today's index rate, then shows the largest loan that passes every test and which test stops it.
Largest loan that passes every test
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| Loan-to-value | – |
|---|---|
| DSCR | – |
| Debt yield | – |
| Cap rate (NOI / value) | – |
Your numbers stay in your browser until you choose to send them.
The index rates the sizer uses
4.82%
4.89%
5.00%
3.90%
3.89%
7.00%
Treasury yields: U.S. Treasury daily par yield curve. Prime: Federal Reserve H.15. SOFR: New York Fed. A reading is marked stale once it is more than five days old. © 2026 Federal Reserve Bank of New York. Content from the New York Fed subject to the Terms of Use at newyorkfed.org. This site is not affiliated with the New York Fed.
How the three tests work
Loan-to-value caps the loan at a share of the property's value. On a $10,000,000 property, 75% LTV allows $7,500,000. It ignores income and the interest rate.
Debt service coverage asks whether the income pays the mortgage with room to spare. At 6.50% on a 30-year amortization, each dollar of loan costs about 7.585 cents a year. With $650,000 of NOI and a 1.25x minimum, the payment can't exceed $520,000 a year, so the loan tops out near $6,856,000. That's below the LTV limit, so DSCR binds.
Debt yield is NOI divided by the loan, with no rate involved. At a 9% minimum, $650,000 of NOI supports about $7,222,000. Lenders that use it like that it doesn't move when rates or amortization change.
The defaults for each lender type come from that lender type's published limits, listed on its page under Lenders. You can change any of them to match a term sheet you already have.
Questions
How much can I borrow on a commercial property?
The lower of three numbers: the property value times the lender’s maximum loan-to-value, the loan whose payment the net operating income covers at the lender’s minimum DSCR, and (for many lenders) net operating income divided by the minimum debt yield. Whichever is smallest is your loan, so the sizer shows all three and marks the one that binds.
Why does a higher interest rate shrink my loan?
Because the DSCR test is about payments. At a higher rate the same loan costs more each year, so less loan fits under the income. Debt yield and LTV ignore the rate, which is why, when rates rise, the DSCR test is usually the one that binds.