Finance category
Mortgage, loan, investing, tax, and money calculators.
Spread Over Benchmark Calculator
Spread + benchmark = all-in loan rate.
All-in rate
0.07%
Spread %
0.03%
Floor binding?
No
How the math works
All-in = max(benchmark + spread, floor).
4.5% + 2.75% = 7.25%. Above 6% floor — uses 7.25% all-in. Spread 275 bps.
How to Use
- Enter benchmark rate %.
- Enter spread bps.
- Enter floor rate %.
- Read all-in rate.
Frequently Asked Questions
Typical spreads?
Agency multifamily (senior): 150-275 bps over SOFR. CMBS senior: 175-325 bps. Bank senior: 200-350 bps. Bridge: 400-650 bps. Mezz: 600-1000 bps. Construction: 350-600 bps. Spreads vary by property type, leverage, borrower quality.
Floor?
Loan floor rate: prevents rate falling below. Common in bridge loans when SOFR was near 0: 'SOFR + 450 bps, floor 5.5%'. Protects lender in low-rate environments; irrelevant in high-rate environments.
Calculating all-in?
All-in = max(benchmark + spread, floor). Spread fixed; benchmark moves with Fed. Borrower bears rate risk unless hedged. Rate cap protects against high benchmark moves.
How often should I rerun this?
Rerun this calculator whenever inputs change materially — new rent roll data, rate moves, loan balance updates, or quarterly operating data. For active deals, monthly refresh is typical. For stabilized assets under monitoring, quarterly is fine. Treat the output as a decision tool, not a one-time answer — market conditions evolve and so should your analysis.
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