How are the rates on CommLoan's rate table calculated?

Current rates are calculated using a spread over the major index, which is updated daily, and are an average of rates available from participating lenders in the network. A personalized quote uses a more detailed model that adjusts the spread for the loan's loan-to-value, property type, and location, so the published table is for comparison only.

When can a borrower lock the rate?

Most lenders do not allow a rate lock at term sheet in commercial real estate, though some do. With most lenders the rate can be locked once the lender is engaged and the deposit for the third-party reports has been provided.

What is needed to get a personalized quote?

Submit contact details through the quote form and a loan consultant will follow up. Be prepared to discuss the property's cash flow and the sponsor's financials and experience. A T-12 for the property, an SREO form, and a personal financial statement can speed up the process.

Debt marketplaces

CommLoan

CommLoan is a commercial real estate lending marketplace that matches borrowers and brokers with lenders. It describes itself as a three-sided marketplace rather than a brokerage or a software tool.

The matching engine, CUPID (Commercial Underwriting Pricing Index Data), analyzes more than 600,000 loan programs from over 900 lenders and returns the lenders and terms that fit a deal. A borrower completes a quote request covering property type, loan purpose, location, minimum fixed-rate period, loan amount, and target loan-to-value, and gets an indicative quote showing the top six lenders, after which a loan consultant follows up. Brokers use the platform to generate quotes and take back-office and compliance support; lenders receive pre-underwritten, on-criteria files.

Loan programs on the platform include conventional bank and credit union loans, CMBS, bridge, SBA 7(a), and SBA 504. The site publishes a commercial mortgage rate table, updated daily, with 5-, 7-, and 10-year quotes averaged across participating lenders, and states that these are comparison figures and not a commitment to lend.

CommLoan works from 9112 E. Verde Grove View, Suite 105, Scottsdale, Arizona, and publishes its state licences: commercial mortgage banker licences in Arizona, California, and Nevada, and NMLS registrations in North Dakota and South Dakota. It does not publish what it charges, so ask how CommLoan is paid on a placement.

Best for

Borrowers and brokers who want to see which lenders will quote a commercial deal and on what terms without calling banks one at a time. A loan consultant follows every quote, so it is not a self-service closing.

What they do

Commercial mortgage marketplace and lender matching
Bank and credit union commercial loans
CMBS loans
Bridge loans
SBA 7(a) loans
SBA 504 loans
Loan quote generation for brokers
Back-office and compliance support for brokers
Lending partnership program for lenders

Details

Attribute	Value
Licenses	Arizona CMB License 0943012, California CMB License 02048126, Nevada CMB License 124274, North Dakota NMLS MB105163, South Dakota NMLS 1597276.ML-NR

What stands out

CUPID, the firm's matching engine, analyzes more than 600,000 loan programs from over 900 lenders.
Publishes a commercial mortgage rate table updated daily, with 5-, 7-, and 10-year quotes averaged across participating lenders.
Holds commercial mortgage banker licences in Arizona, California, and Nevada, and NMLS registrations in North Dakota and South Dakota.
Describes itself as a three-sided marketplace rather than a brokerage or a SaaS tool.

Common questions

How are the rates on CommLoan's rate table calculated?: Current rates are calculated using a spread over the major index, which is updated daily, and are an average of rates available from participating lenders in the network. A personalized quote uses a more detailed model that adjusts the spread for the loan's loan-to-value, property type, and location, so the published table is for comparison only.
When can a borrower lock the rate?: Most lenders do not allow a rate lock at term sheet in commercial real estate, though some do. With most lenders the rate can be locked once the lender is engaged and the deposit for the third-party reports has been provided.
What is needed to get a personalized quote?: Submit contact details through the quote form and a loan consultant will follow up. Be prepared to discuss the property's cash flow and the sponsor's financials and experience. A T-12 for the property, an SREO form, and a personal financial statement can speed up the process.