Real Estate Brokers

Commercial Real Estate Lending

Our common sense approach to lending helps you close more commercial real estate loans for your borrowers

CRE Loan Application


We work to provide you with answers ASAP - even if it is a "no" - so that you can move on to your next deal


We ask, "how can we do this deal?" We're able to close deals that even surprise the broker. Give us a call


We provide great CRE lending options for good CRE borrowers, closing deals quickly and smoothly

Our Approach to CRE Lending

Common sense. CRE lending.

Balboa CRE is designed to help brokers close more commercial real estate loans. Our Purchase, Refinance, and CRE Investor lending options all provide quick answers that help our brokers close more loans for their clients







Get real answers from a CRE lender

Brokers, you shouldn't have to wait weeks (or months) for a loan committee then hear "no".

Balboa CRE will get back with you ASAP and provide a firm offer for your deal*

Call (619) 397-7774

Lending Info

A lender that uses a "common sense" rate sheet designed to help you close loans

Office, Industrial, Mixed-Use, Medical/Pharma, CRE Condo, Multifamily

Property Types

Loan Amounts

from $250,000 to $2,500,000+ (higher loan amount request considered on case-by-case basis)

Loan-to-Value (LTV)

up to 65%

Rates & Terms

Rates are tied to Wall Street Journal Prime - call for specific rate by property / 5 year fixed / Up to 30 year Am

Debt Service Coverage Ratio (DSCR)

Minimum DSCR of 1.15 (Multifamily) from 1.20 on all other properties / Global DSCR used in all underwriting

Net Operating Income (NOI)

Net Operating Income analyzed for all income-producing commercial real estate properties

CRE Loan Application
1003 Application
1003 Application, additional borrower

Below form(s) needed for loans on multifamily property types

Recent CRE Deals

Learn more about our recent commercial real estate loans that we've closed with our brokers

Multifamily purchase $1.3M+ with fund control

1031 Exchange, CRE Investor, $3.8M

Cash out Refinance to purchase property, $1.85M

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Multifamily purchase $660K with fund control for property remodel

Medical Office, Owner-Occupied Refinance, $380K

Mobile Home Park cash out refinance, $490K

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CRE Investor Refinance, $2.75M+

Trust Entity Refinance, Multifamily $300K

CRE Investor, Retail Refinance, $3M+

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“We are in business to make our brokers more successful and look like heroes to their clients. Each loan is treated like the most important deal we’re working on.”

About Balboa CRE

Always working to earn your business and trust

Since 1981 we have been in the relationship business. Brokers become friends and we treat our friends like family. Let us earn your business on your next CRE loan.

Honesty | Integrity | Commitment

Debbie Escobedo

President, Balboa

Jim Morstad

Vice President, CRE

Joseph Morstad

Business Development, CRE Loan Officer

Send your CRE loan inquiry today

Upload CRE files here

You can securely send loan docs using the below button

What Others Are Saying

Balboa CRE is always working to earn your trust. The below praises are a great bonus!

Sandy Biondo

My files move smoothly and are one of the last common sense lenders. I don't know how you do it, but it is appreciated.

Consolidated Lenders

Rob Brodt
Genesis Financial

I have been working with Balboa for a couple of years now. They get results quickly so I can move on to the next deal. It's been great. I could not be happier with a lender and I look forward to putting more deals together.

Fay Ryan

IDS Real Estate Group

Their customer service, flexibility and speed in getting the deal done as well as competitive fees are the best!

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Connect with Balboa CRE today

Balboa Commercial Real Estate (CRE) is a division of Balboa Thrift and Loan. Member FDIC and Equal Housing Lender. 2018 Balboa Thrift and Loan. All rights reserved. DBO # 1802 NMLS #810477

(619) 397-7774

865 Amena Court Chula Vista, CA 91910



  • $600,000+ Purchase loan
  • Fund control for renovations
  • 58% LTV
  • 5 unit Apartment
  • Los Angeles, CA

How Balboa CRE closed this deal:

Balboa CRE was approached by a successful broker working with this borrower in need of CRE investment financing to purchase this 5 unit apartment building in a bankruptcy sale. The borrower has a strong real estate portfolio showing a successful track record of value-added investment property experience.

The borrower needed Balboa CRE to see the potential proforma and appraised "After Value" of this deal to make the loan work. Looking at the post rehab renovations (and higher than expected new rent roll) it looks like we made a good call. 

Call Joseph Morstad to discuss your client's CRE lending needs

(619) 397-7774

Call Joseph Morstad to discuss your client's CRE lending needs.

(619) 397-7774

  • $1,398,000 purchase loan
  • Fund control for renovations
  • 9 unit Apartment building
  • Los Angeles, CA
  • Borrower took title in LLC

How Balboa CRE closed this deal:

Commercial real estate investor needed a quick decision and loan closing to successfully close on this investment property in Los Angeles, CA. Borrower has a strong track record of acquiring under-performing apartment properties, rehabbing them, and creating a higher performing income producing property.

Balboa CRE saw the borrower's rehab vision and used a third-party fund control to set aside the necessary funds to complete the project. Project is currently over 85% complete, fully pre-leased with updated rent roll exceeding initial underwritten projections.



  • 1031 Exchange
  • Borrower sold hotel in San Diego
  • 1031 Exchanged into 3 separate, cross-collateralized Dollar Generals throughout the US
  • This specific property was a $1,200,000+ purchase

How Balboa CRE closed this deal:

Local real estate investor sold his hotel in San Diego and had a 1031 Exchange setup to purchase 3 separate Dollar General properties throughout the United States with a local credit union. At the last minute the credit union changed a key term of the deal on the borrower!

The borrower's broker contacted Balboa CRE and told us if we could match the terms - and close ASAP - the deal was ours. Fortunately for all parties involved (except the credit union) we were able to perform our own internal underwriting, get approval, and close on these three NNN leased, income producing properties for our new borrower.

Call Joseph Morstad to discuss your client's CRE lending needs

(619) 397-7774

  • $2,700,000+
  • Rate and term Refinance
  • Retail
  • CRE investor owned property
  • Escondido, CA

How Balboa CRE closed this deal:

Call Joseph Morstad to discuss your client's CRE lending needs

(619) 397-7774

Long time owner-occupied borrowers decided to stop operating their own grocery store to slow down and enjoy their retirement years. They were able to keep the property and found a great tenant in Grocery Outlet.

Our borrowers approached Balboa CRE when they needed to find a commercial real estate lender that could quickly and easily help them refinance this property while maintaining a positive relationship with their tenant, Grocery Outlet. Balboa CRE closed this loan keeping all parties involved happy.

  • $300,000 refinance
  • 21-unit Multifamily property
  • Family Trust
  • San Diego, CA

How Balboa CRE closed this deal:

Balboa CRE knows that some lending institutions cannot - or will not - lend below $500,000 loan amounts. Nothing against those other lenders but we're more than happy to take a look at your borrower's "small loan balance" loan any day of the week!

Interestingly enough, this deal was brought to us by a broker that has also brought some of Balboa CRE's largest loans. And once we took a look at the underwriting fundamentals (incredibly low LTV of 10%, extremely strong subject property DSCR over 6.00) there was practically no way we could say no on this 21-unit apartment building refinance. Brokers and real estate agents, make sure to reach out with your "small loan" balances next time.

Call Joseph Morstad to discuss your client's CRE lending needs

(619) 397-7774
  • $380,000 rate & term refinance
  • Owner-user medical office
  • Newport Beach, CA
  • 73% LTV
  • Borrower's strong global cash flow used to obtain loan approval

How Balboa CRE closed this deal:

Borrower was coming due on his previous commercial real estate loan on his subject property medical office condo. One of Balboa CRE's most respected brokers approached us for a rate and term refinance loan on this property located in Newport Beach, CA.

With a loan balance below $400,000, other institutional lenders weren't interested but Balboa CRE was able to analyze the borrower's strong global cash flow to see the potential behind this deal. 

Despite a relatively higher LTV and tight subject property DSCR, we successfully closed on this commercial real estate loan for our new borrower.

(619) 397-7774

Call Joseph Morstad to discuss your client' s CRE lending needs

  • $3,000,000+ rate and term refinance
  • Retail and Office
  • Flexible terms and no prepayment penalty
  • Downtown San Diego, CA

How Balboa CRE closed this deal:

Balboa CRE was pleased to start our relationship with this new broker on such a great property located in the heart of downtown San Diego!

The borrower on this deal is a very successful real estate investor that was in need of a competitive rate with flexible terms from an institutional lender. With some deals of this size, there were a few starts and stops during the initial underwriting. We were able to provide our true common sense approach towards good deals that helped keep the loan on track and able to close on time.
Call Joseph Morstad to discuss your client's CRE lending need

(619) 397-7774

  • $1,800,000 Cash out Refinance
  • CRE investor used cash out financing on free-and-clear Arby's to purchase a NNN lease investment property
  • Restaurant
  • Chula Vista, CA

How Balboa CRE closed this deal:

Balboa CRE has enjoyed a long standing relationship with this borrower's broker. We have been in discussions for months awaiting the right commercial real estate investment opportunity for our borrower. Once the right property was identified by the broker Balboa CRE was able to provide a Pre-Approval Letter and appraisal quote within 3 days.

The borrower needed a fast closing on a cash-out refinance on his free-and-clear NNN restaurant property to facilitate a purchase of another NNN restaurant. 

Balboa CRE was able to provide our borrower with cash-out financing and a quick closing to help him acquire another investment property and continue to improve his real estate portfolio.

Call Joseph Morstad to discuss your client's CRE lending needs

(619) 397-7774

  • $490,000 cash-out refinance
  • Mobile Home Park
  • Palmdale, CA
  • Proceeds went to another real estate investment purchase
  • Entity ownership

How Balboa CRE closed this deal:

Subject property owned free-and-clear by entity. Cash out loan proceeds were used for borrower to invest in another real estate investment property in San Diego.

Balboa CRE is grateful to have great relationships with brokers that know the types of commercial real estate loans that we can - and what we cannot - do. This broker helped to bring in a handful of loans for us in 2017. He has been off to another great year with deals like this mobile home park cash-out refinance. 

(619) 397-7774

Call Joseph Morstad to discuss your client' s CRE lending needs