Small balance with confidence.

PennyMac Commercial Real Estate Finance (PCREF) is a direct, non-bank lender specializing in small balance multifamily and commercial loans nationwide.

As the B-piece owner on multiple loan products, including Freddie Mac SBL for multifamily nationwide, PCREF is proud to blend the financial strength and leadership you can count on with the flexibility and streamlined process you deserve.

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Instant Pricing & Term Sheets for Multifamily SBL Deals
  • Small balance loans ­ $1 million to $5 million
  • Multifamily properties with 5 or more units
  • View rates for all available term options (up to 10 yrs. fixed)
  • Print a term sheet within minutes!


As an approved Freddie Mac SBL Seller/Servicer, PCREF offers highly competitive rates on small balance multifamily loans nationwide. Lower fees, flexible terms, and prepay options aren’t the only perks.

Commercial Real Estate

Finally, a well-priced solution for your small balance commercial real estate deals from a true non-bank lender. Loan amounts from $1 to $15 million, up to 75% on CRE with 5, 7, and 10-year fixed-rate terms, interest-only options, and non-recourse available.