Commercial Real Estate Loans — Up to 90% CLTV

Most commercial lenders cap combined loan-to-value at 65-75% and won’t touch deals with seller carrybacks, subordinate liens, or non-standard capital stacks. That rigidity kills real transactions. Our commercial real estate loan program is built differently: up to 90% CLTV, with the flexibility to accommodate seller carry-backs and 2nd liens behind our 1st mortgage position. If your deal has a creative structure, this is the program to bring it to.

Whether you’re a real estate investor acquiring a mixed-use building or a commercial broker structuring a deal that no conventional lender will touch, our program gives you the leverage and flexibility to execute. See our full loan programs and bridge loan options for the complete picture.

Eligible Property Types

This program covers six commercial property categories, each with distinct investor use cases:

Mixed-Use: Properties combining retail or office space with residential units. Mixed-use assets produce diversified income streams but are often declined by single-focus lenders. Our program accommodates mixed income sources and non-standard unit configurations that conventional commercial lenders reject.
Multi-Family: 5+ unit apartment buildings and larger residential income properties. Multi-family investors frequently need leverage above what agency programs provide, particularly for value-add acquisitions or properties that don’t yet meet standard occupancy thresholds.
Retail: Strip centers, standalone retail, and neighborhood shopping centers. Retail assets have faced tighter conventional financing since 2020; our program evaluates the underlying income and property value rather than applying rigid category exclusions.
Warehouse: Industrial, distribution, and light manufacturing facilities. Warehouse demand has strengthened as e-commerce logistics infrastructure has expanded, but many borrowers find conventional commercial lenders slow and inflexible on industrial assets. We move faster — and our industrial property financing and warehouse financing programs are built for these scenarios.
Self-Storage: Climate-controlled and standard storage facilities. Self-storage is one of the most recession-resilient commercial asset classes, but smaller and mid-sized facilities often fall outside the parameters of large institutional lenders. Our program accommodates these assets.
Automotive: Auto dealerships, service centers, car washes, and automotive-related commercial facilities. Automotive properties have specialized income structures and real estate profiles that require lenders who understand the asset class rather than applying generic commercial criteria. See our dedicated automotive repair facility financing program for full details.

Why Investors Use This Program

The 90% CLTV structure is specifically designed for deals that require creative capital stacking. Here’s what that means in practice:

Seller Carryback Structures

A seller carryback — where the seller agrees to finance a portion of the purchase price through a subordinate note — is a common tool in commercial transactions, particularly when buyers need to bridge a gap between available equity and purchase price. Most institutional lenders won’t permit seller carrybacks because they create combined loan exposure above their internal LTV caps. At 90% CLTV, there’s room in the capital stack for a seller 2nd without blowing through the combined leverage limit. This opens transactions that would otherwise require the buyer to walk away or reduce the offer price.

2nd Lien Structures

Our program permits qualifying 2nd liens to sit behind our 1st mortgage position, within the 90% combined cap. For brokers, this means you can structure deals where institutional equity is supplemented by a subordinate lender, a preferred equity partner, or a seller carry — and our 1st mortgage position accommodates that rather than blocking it.

Deals That Don’t Fit Rigid Boxes

Commercial transactions rarely arrive in the exact format that large institutional lenders prefer. Mixed ownership structures, properties mid-renovation, non-standard tenant profiles, and assets in secondary markets all create friction in conventional underwriting. If your deal involves a construction or rehab component, our construction financing programs address that phase directly. This program is built for real-world deal complexity, not clean-file processing. If you’ve been shopping a scenario and getting declines on technical grounds, bring it here.

Program Highlights

Up to 90% CLTV — the combined total of 1st mortgage plus any subordinate financing
Seller carrybacks permitted within CLTV cap
2nd liens permitted behind our 1st mortgage position
Eligible property types: Mixed-Use, Multi-Family, Retail, Warehouse, Self-Storage, Automotive
Designed for broker-originated transactions with complex capital structures
Evaluated on real-world deal merit, not rigid standardized criteria
All financing subject to underwriting approval and program eligibility

Who This Is For

Real Estate Investors

Investors acquiring commercial properties who need leverage above what conventional lenders provide, or who are structuring acquisitions with seller participation or subordinate financing. The 90% CLTV structure allows investors to preserve capital for reserves, improvements, or parallel acquisitions while maintaining a viable debt structure on the subject property.

Commercial Mortgage Brokers

Brokers who specialize in commercial transactions and routinely encounter deals that institutional lenders decline on structural grounds. If your clients need seller carryback accommodation, 2nd lien flexibility, or simply higher combined leverage than agency programs permit, this program is built for your deal flow. Bring us the scenarios you’ve been told can’t be done.

Intermediaries and Deal Structurers

Investors and advisors who structure complex commercial transactions — including equity partners, family offices acquiring commercial assets, and investors combining multiple capital sources to complete deals. The 90% CLTV flexibility is designed specifically for structured transactions where multiple capital layers are involved.

Commercial CLTV — Frequently Asked Questions

What does 90% CLTV mean for a commercial loan?

CLTV stands for Combined Loan-to-Value — the total of all liens against a property divided by its appraised value. At 90% CLTV, the combined balance of our 1st mortgage plus any subordinate financing (seller carry, 2nd lien) can reach up to 90% of the property’s appraised value. For example, on a $1,000,000 commercial property, total combined debt could reach up to $900,000 — structured across a 1st and 2nd lien or a 1st plus seller carryback, within that cap. Subject to underwriting approval and program eligibility.

Does the seller carryback have to be disclosed and documented?

Yes. All subordinate financing — including seller carrybacks — must be disclosed to us as the 1st lien lender and included in the CLTV calculation. Undisclosed 2nd liens are a compliance violation. The advantage of this program is that seller carry is explicitly permitted and accommodated within the 90% cap, rather than being a disqualifying factor. Full documentation and disclosure is required. All financing is subject to underwriting approval.

Are all six property types available in every market?

Program availability varies by market and specific property characteristics. Not all property types or deal structures are available in all locations. Submit your commercial scenario for review and our team will evaluate eligibility for the specific property, market, and structure. Subject to program eligibility and underwriting approval.

What information do you need to evaluate a commercial scenario?

The fastest path to an initial evaluation is to submit the property address, property type, estimated value, proposed capital structure (1st lien amount, any proposed 2nd or seller carry), and a brief description of the transaction. Rent rolls, existing leases, and property financials are helpful but not required for the initial scenario review. Submit your commercial scenario here.

Submit Your Commercial Scenario

If you have a commercial deal that needs 90% CLTV, seller carryback flexibility, or 2nd lien accommodation, submit it for review. Our Capital Desk evaluates commercial scenarios on their deal merit — not on how well they fit a standard template.

You can also review our portfolio loan programs and bridge financing options for additional commercial and investment property structures. All financing is subject to underwriting approval and program eligibility.

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