Find Out If Your Deal Qualifies
Before Your Lender Tells You It Doesn't.
The lending environment that originated your loan no longer exists. Lenders are applying stricter DSCR thresholds, debt yield floors, and LTV caps that most CRE investors have never modeled. This tool runs your maturing loan through current underwriting standards and calculates your exact refinance gap — in under 10 minutes.
Sample Deal Analysis
92-Unit Multifamily | $6.8M Balance | 9 Months to Maturity
Your Original Loan Assumptions No Longer Reflect Reality.
Four things have changed since your loan was originated — and none of them are working in your favor.
Four Steps. Under 10 Minutes. Deal-Specific Results.
This is not a generic calculator. It applies asset-type-specific lender benchmarks and runs your deal through three simultaneous underwriting constraints — the same ones a credit officer uses.
Enter Your Deal Profile
Asset type, loan balance, and months to maturity. The tool immediately loads the correct market rate benchmarks for your property category.
Input Current Financials
Trailing 12-month NOI, current market value, and original underwriting NOI. Live metrics update as you type — including current LTV and debt yield.
Confirm Debt Structure
Current rate, debt service, and exit costs. The tool models your spread versus market rate and calculates the true cost to exit your current loan.
Receive Your Gap Report
Enter your email and get your complete analysis: risk tier, binding constraint, gap amount, 3-scenario stress test, and capital stack solution paths.
Run Your Refinance Gap Analysis
Modeled against current lender underwriting standards by asset type. Specific to your deal — not a general estimate.
Your Report Is Ready
Enter your contact information below. Your complete Refinance Gap Report — risk tier, binding constraint, gap amount, 3-scenario stress test, and capital solution paths — will appear immediately.
Six Outputs. Zero Generalities.
Every result is calculated from your specific inputs against current market benchmarks. Nothing is estimated. Nothing is averaged.
Your Refinance Gap — in Dollars
The specific dollar difference between your current loan balance and what today's lenders will actually fund. Not a range. Not an estimate. A number.
Risk Tier Classification
GREEN, YELLOW, RED, or CRITICAL — based on a weighted composite score across DSCR, debt yield, LTV, maturity timeline, and exit cost burden.
Binding Constraint Identification
The tool identifies which of the three lender constraints — DSCR, debt yield, or LTV — is most restrictive for your deal. That constraint determines the solution.
Three-Scenario Stress Test
Base case, moderate stress (+150 bps, -15% NOI, -10% value), and severe stress (+250 bps, -25% NOI, -20% value) — with a PASS/FAIL verdict on each.
Capital Stack Solution Paths
Three capital structure options — preferred equity injection, bridge-to-perm, and A/B note structure — with the most likely path highlighted for your tier.
Market Rate Analysis
The midpoint market rate for your asset type applied against your current note rate, with the rate spread shown in basis points — so you see exactly what the refi will cost.
This Tool Is Built Around How Lenders Actually Think.
Rate sheets and lender lists are not intelligence. This is intelligence.
Debt Yield Is the New Primary Gate
Most borrowers monitor DSCR. Most lenders now lead with debt yield — a metric that is rate-agnostic and increasingly used as the first disqualifier. A deal can pass DSCR and fail debt yield simultaneously.
CMBS Exit Costs Are Systematically Underestimated
Defeasance and yield maintenance on 2020–2022 vintage CMBS loans can cost 2–5% of the loan balance. On a $5M loan, that is $100K–$250K that must come from equity before the first dollar of refinance proceeds.
Agency Timelines Are Longer Than Borrowers Expect
Agency execution (Fannie/Freddie) is the most competitive option for qualifying multifamily deals. It is also 60–90 days from application to close — after third-party reports are complete. Six months out is too late.
Asset Type Is Now a Credit Decision
Office buildings that pencil on DSCR are being declined based on asset category risk alone. Most bank programs have tightened or paused new originations on office. Metrics are not enough — lender appetite matters.
Bridge Lenders Underwrite Exit, Not Entry
A bridge lender at 9.5% IO needs to know this deal can refinance to permanent financing in 18–24 months. If the forward underwriting doesn't work, the bridge lender won't fund — even if today's metrics qualify.
Sponsor Liquidity Is Scrutinized Post-Close
Lenders increasingly require liquid assets equal to 10% of the loan balance post-close. Sponsors who are well-capitalized on paper but cash-thin face reserve requirements of $250K–$500K on a $5M loan — discovered at credit committee, not at application.
This Is Not Broker Marketing. This Is Pre-Underwriting Intelligence.
| Capability | Typical Broker Tool | Refinance Gap Report |
|---|---|---|
| Tells you something new about your deal | ✗ No | ✓ Yes |
| Applies asset-type-specific lender benchmarks | ✗ No | ✓ Yes |
| Calculates debt yield (not just DSCR) | ✗ Rarely | ✓ Always |
| Identifies the binding constraint | ✗ No | ✓ Yes |
| Runs 3-scenario stress test | ✗ No | ✓ Yes |
| Includes exit / prepayment costs in gap | ✗ No | ✓ Yes |
| Accounts for rate spread vs. note rate | ✗ No | ✓ Yes |
| Recommends capital stack solution paths | ✗ No | ✓ Yes |
| Leads to a capital strategy conversation | ✗ Rate quote | ✓ Deal diagnosis |
The Borrowers With the Most Options Are the Ones Who Move First.
Each month that passes removes one execution path. Here is what is still available — and when it closes.
Full Optionality
Agency, bank, life co, bridge. All execution paths are open. Maximum lender competition. Best pricing.
Act Now
Application submitted. Third-party reports ordered. Agency still possible. Backup options being identified.
Urgency Zone
Agency execution is marginal. Bank or bridge only. Capital structure alternatives should be in motion.
High Risk
Agency off the table. One lender option, maybe two. Equity injection or bridge may be the only path.
Emergency Protocol
Extension, forbearance, or maturity default risk is real. Intervention required immediately.
What Investors Ask Before Running the Analysis.
What is a refinance gap?
The refinance gap is the dollar difference between your current loan balance and the proceeds a lender will actually fund at refinance — calculated using today's market rate, debt yield floor, LTV cap, and DSCR threshold for your asset type. A positive gap means you will need to bring equity to the table at maturity.
Is this analysis specific to my deal or a generic estimate?
It is specific to your deal. The tool applies asset-type-specific market rate benchmarks, runs your actual NOI and loan balance through three simultaneous lender constraints, and identifies the binding constraint that limits your proceeds. No two outputs are the same.
What is debt yield and why does it matter?
Debt yield is NOI divided by loan amount. Unlike DSCR, it is rate-agnostic — meaning lenders can apply it regardless of current interest rates. It is increasingly used as the primary gating metric at institutional lenders. A deal can pass DSCR at the current rate and still fail a debt yield floor. Most CRE investors have never run this number on their loan.
What is the difference between this and a mortgage broker rate quote?
A rate quote tells you what a lender might charge. This tool tells you whether your deal qualifies at all — and by how much it fails or passes the three primary underwriting constraints. Knowing your gap before you engage a lender is the difference between a clean refinance process and an 11th-hour denial.
My deal scored RED or CRITICAL. What does that mean?
It means standard refinance on its current terms is unlikely without a change to the capital structure. It does not mean the deal is unresolvable. Three capital paths exist — preferred equity injection, bridge-to-perm, and A/B note structure. Which one is viable for your deal is what a Capital Structure Review is designed to determine.
What happens after I complete the analysis?
You receive your results immediately on screen. If your tier is RED or CRITICAL, you can book a 30-minute Capital Structure Review directly from the results page. That call reviews your specific gap, identifies which capital paths are still executable given your timeline, and gives you a clear diagnosis — not a sales pitch.
My loan matures in more than 12 months. Should I still run this?
Yes. The lenders who will refinance your loan are underwriting today's market standards — and those standards may tighten further. Running the analysis now tells you where you stand before conditions change, and gives you the maximum timeline to address any gaps without urgency premium.
What types of properties does this tool cover?
Multifamily (agency and bank), industrial, retail, office, hospitality, mixed-use, and bridge loans. Each asset type carries different market rate assumptions, debt yield floors, and maximum LTV thresholds — all sourced from current lender benchmarks and updated quarterly.
Your Maturity Date Has Not Changed.
Your Lender's Standards Have.
Run your deal through today's underwriting standards in under 10 minutes. Find out where your gap is before your lender does — while you still have time to act on it.
Urban Skyline Investments, LLC provides educational information and consulting services related to business credit and commercial real estate financing. The content on this website is for informational purposes only and should not be considered financial, legal, tax, or investment advice.
We do not offer or sell securities and we do not solicit investors. Nothing on this website constitutes an offer to buy or sell any security or participate in any investment opportunity. Any examples or scenarios are hypothetical and not guarantees of results.
Urban Skyline Investments, LLC is not a lender, broker-dealer, or investment advisor. Financing options referenced may be provided by third-party lenders. Users should perform their own due diligence and consult with licensed professionals before making financial decisions. Use of this website is at your own risk.
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