Interactive Lab
Lender Type Comparison
Lender Type Comparison
The major commercial lender types, side by side — typical leverage, recourse, and where each one fits best.
| Lender Type | Max LTV | Recourse | Prepayment | Best For |
|---|---|---|---|---|
| Commercial Banks & Credit Unions | 75% | Recourse | step down | multifamily, retail, office, industrial, mixed-use |
| CMBS Conduit Loans | 75% | Non-Recourse | defeasance | retail, office, industrial, hospitality, multifamily |
| Agency Lending (Fannie Mae / Freddie Mac) | 80% | Non-Recourse | yield maintenance | multifamily |
| Life Insurance Companies | 65% | Non-Recourse | yield maintenance | office, retail, industrial, multifamily |
| Debt Funds & Bridge Lenders | 85% | Limited Recourse | open | multifamily, office, retail, industrial, hospitality |
| SBA 504 / 7(a) | 90% | Recourse | step down | office, industrial, retail |