Small-Balance Commercial
We buy small-balance commercial loans.
Multifamily up to 25 units and mixed-use up to 10 units, from $300K to $5M.
For private lenders and debt funds lending on small apartment and mixed-use buildings.
- No minimum
- Bid within 24 hours
- Servicing released or retained
Buy box
Small-balance commercial buy box
| Collateral | Multifamily up to 25 units. Mixed-use up to 10 units, at least 50.01% residential. No pure commercial property. |
|---|---|
| Loan size | $300K to $5M. |
| Appraisal | Through an AMC with a local appraiser. National appraisal firms are not eligible. |
| Environmental | A records search (RSRA) up to $3M; a Phase I above $3M. |
| Leverage, credit and loan size | Set out in our guidelines and matrix, which approved sellers receive. |
How we review
Valuation, environmental and every condition, reviewed in full.
After you accept our bid, our AI underwriting reviews the entire file (the appraisal, rent roll and operating history, the environmental report, and every loan condition) and our underwriters clear it. That is how diligence clears fast and we close what we commit to.
Fit
What sells well, and what gets kicked out
Sells well
- Stabilized multifamily with a current rent roll
- Mixed-use where the residential share is clear and at least 50.01%
- An AMC appraisal by a local appraiser, every unit inspected
- The right environmental report for the loan size
Gets kicked out
- Pure commercial property: retail, office or industrial
- Appraisals from national appraisal firms
- No Phase I on a loan above $3M
- Subordinate financing behind the loan
What to send
What to send, and when.
Submit a tape (Excel/CSV or your loan system's export) or register loans in the CorrFirst seller portal.
To get a bid: tape fields or portal registration
- Loan ID, property address and property type
- Original and current balance, note rate and maturity
- As-is value, and after-repair value where there is one
- Lien position, occupancy and loan purpose
- Borrower credit score and experience
- Payment status and days delinquent
- Unit count, residential share and net operating income
After you accept: the loan file and collateral documents
- Note, mortgage or deed of trust, and any modifications
- Appraisal, through an AMC with a local appraiser
- Title policy or commitment, and evidence of insurance
- Closing statement and loan approval or conditions
- Borrower and entity documents, including any guaranty
- Payment history and current servicer information
- Rent roll and operating statements
- Environmental report (RSRA or Phase I)
Submit a tape (Excel/CSV or your loan system's export) or register loans in the CorrFirst seller portal. Approved sellers receive our tape template and collateral file checklist.
Become a SellerCommon questions
Small-balance commercial questions
What collateral do you buy?
What loan sizes do you buy?
Which appraisals are eligible?
What environmental report do you need?
Loans we buy
Other loans we buy
Fix & Flip / Bridge
Rehab and bridge loans, including partially drawn loans with draws still to fund.
See the buy boxGround-Up Construction
New construction up to 10 units, including multifamily and mixed-use.
See the buy boxDSCR & Investor
Rental loans qualified on property cash flow, long-term and short-term rentals.
See the buy boxSpecialty / Hard-to-Place
Rural, acreage, modular, manufactured, bailouts and foreign nationals.
See the buy boxNon-QM
Bank-statement, alt-doc and other non-QM residential loans.
See the buy boxSeasoned & Performing Portfolios
Seasoned books from private lenders ready to recycle capital.
See the buy boxNext step
Have a small-balance commercial loan to sell?
Submit a tape or register loans in the seller portal. Bid within 24 hours.
