CMBS DSCR Calculator

How the calculation works

DSCR is net operating income divided by annual debt service. Enter your NOI and your loan terms and the tool builds the debt service for you, both amortizing and interest-only, because the same balance covers very differently under each.

$15,000,000 at 6.25% on a 30-year amortization costs $92,357.58 a month, or $1,108,291 a year:

1,250,000 / 1,108,291 = 1.13x DSCR

Interest-only, that loan costs $937,500 a year: 1,250,000 / 937,500 = 1.33x DSCR

That 0.20x gap is what an interest-only period is worth to coverage on this loan, before anything else about the deal changes. Set amortization to 0 years to model a loan that never amortizes at all.

Sizing back from a coverage test

The last output runs the arithmetic in reverse. Give it the coverage you have to clear and it returns the largest loan that NOI supports at your rate and your amortization. On the numbers above, a 1.25x test cuts the $15,000,000 request to $13,534,352.

Coverage moves whenever pricing moves. Debt yield does not, because neither the rate nor the amortization schedule appears in it, and the CMBS debt yield calculator runs that test on the same NOI.

Estimates only. Check how your loan documents define net operating income, because a servicer’s version of that number can differ from the one on your operating statement. If you want the sizing run against live conduit pricing, the desk will do it. Get a quote or call (561) 556-2121.