Insights

What lenders really want.

Plain-English explainers on the math behind CRE financing — written by advisors, built to pair with our tools.

The math behind the market

Pillar 01 · Featured guide

How Lenders Size Commercial Real Estate Loans

Most owners learn how much debt their property supports only after they’ve gone to market. That’s backwards. Lenders size loans against a short list of constraints — debt service coverage, debt yield, and loan-to-value — and whichever is tightest sets your proceeds. This guide walks through each constraint, how they interact, and how to know which one is binding your deal before you ever send a package.

Read the guide →

Capital stack and underwriting visualization

Pillar 02

Commercial Real Estate Financing: The Complete Guide

Loan types, capital sources, and how a financing process really runs — start to finish.

Read the guide →

Pillar 03

What NOI and Cap Rate Mean for Your Financing

How income and value drive the loan your asset can support.

Read the guide →

More explainers

The metrics, one at a time.

What is DSCR?→ What is debt yield?→ DSCR vs. debt yield vs. LTV: which binds→ How lenders stress-test loans→ Interest-only vs. amortizing debt→

CRE loan types: bank, life co, agency, debt fund, bridge→ LTV explained→ Term sheets explained→ Advisor vs. commercial mortgage broker→ How value drives loan proceeds→

Reading is good. A second opinion is better.

Bring us your deal and a partner will pressure-test the numbers. No obligation, full confidentiality.

Submit a Deal deals@mercurycp.com