48 Meriden Rd, Suite 1, Middlefield, CT 06455

Commercial Mortgage Rates

There are a few factors to consider when discussing commercial mortgage rates. First, the type of commercial property will dictate your base rate. Then, your credit score and loan to value (LTV) will come in as factors. Finally, there are base rate differences between Conventional and Stated Income Commercial Mortgages.

Commercial mortgage rates for Conventional Loans are generally about 1% less than the base rate for Stated Income. No with that said, it is still possible to get a rate in the 6s when stating your income.

Northeast Financial is a Connecticut Commercial Mortgage Loan provider. We cover most of the United States with a focus on the North East and East Coast.  We specialize in “Stated Income” Commercial Mortgage Loans.

Stated Commercial Mortgage Loan Properties:

  • Multi-Family
  • Mixed-Use
  • Retail and Office
  • Auto Repair
  • Day Care
  • Funeral Home
  • Beauty Shops
  • Motels/Hotels
  • Warehouse
  • Mobile Home Parks
  • Campgrounds
  • Churches
  • Self-Storage
  • Dry Cleaner (Drop off only)
  • Finally, Recreational properties

Ineligible Properties:

  • Raw land
  • Likewise, land requiring “ground up” construction (any loan requiring rehab work must equal 10% or less of the property value)
  • Also, Gas stations (although, we will lend on auto repair/auto body shops) are not allowed.

LTV: Maximum LTV is 70% for credit scores of 660 and less.  And a Maximum LTV of 75% with higher Fico Scores.

Credit Scores:

  • 660 Min Score for our Elite Program
  • 600 Min Score for our Traditional Program.

Closings: Three to four weeks (the timeline is based on how quickly we receive all the required information)

Commercial Mortgage Rates: Fixed Rates ranging from 6.5% to 10% based over 25 or 30 years .  We also have ARM programs that are based over 30 years.

Points:  While Northeast Financial does their best to not charge any upfront points, in some cases 1 to 2 points are charged depending on the transaction.

Prepay: Declining 5%-4%-3%-2%-1% Prepay Penalty

States:   Finally, we transact commercial mortgages in 42 states except for Alaska, Alabama, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.

In conclusion, we are here to help with your upcoming commercial mortgage loan.  We say “Yes” when your local bank says “No.”  Since we specialize in this type of financing we are able to help you get your commercial mortgage closed quickly.  And, as said earlier, we will work with you every step of the way.

Call us today for a free consultation on understanding commercial mortgage rates or to get pre-approved.



Michael Meyer
Senior Vice President of Northeast Financial
210 S. Main St Middletown, CT 06457



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