Military orders do not wait for a slow closing. Colorado Springs sellers on a PCS timeline, estates in the older north end and half-empty small multifamily all reward a buyer who can close fast and figure out the long-term loan later.
In short: LendingStreet offers residential investor bridge loans on 1-8 unit properties in Colorado Springs and El Paso County from $150,000 to $5M+, with rates from 7.99% and closings in as little as 10 days. Bridge loans are short-term and interest-only, some bridge programs do not require an appraisal, and the usual exit is a sale or a refinance into a long-term DSCR loan after the property is leased.
A bridge loan is about timing and condition. It finances the gap between buying a property and getting it into shape for permanent financing or a sale.
Colorado Springs also sees a steady flow of owners who moved on orders and became accidental landlords, then decided to sell from out of state. Those properties are often tenant-occupied with older leases and deferred maintenance, and the seller usually wants a simple, certain close. A bridge loan lets you buy on those terms and fix the operation afterward.
Another common case is the investor who wants to buy the next property before selling one in Denver, Pueblo or elsewhere on the Front Range. The bridge loan covers the purchase, and the sale proceeds or a DSCR refinance retire it.
These terms describe the program, not a quote on any property.
| Term | Residential investor bridge |
|---|---|
| Properties | 1-8 units, non-owner-occupied |
| Loan amount | $150,000 to $5M+ |
| Rates | From 7.99% |
| Payments | Interest-only, short-term |
| Speed | Close in as little as 10 days |
| Valuation | No appraisal on some bridge programs |
| Exit | Sale, or refinance into a DSCR loan |
This example is illustrative and not a quote. An investor buys an older triplex near Hillside for $615,000. One unit is vacant and needs paint and flooring, and the other two leases are below market. A bridge loan of $460,000 closes the purchase in under two weeks, with estimated interest-only payments of about $3,446 a month.
Over the next several months the investor renovates the vacant unit and renews the others at market, bringing all three to about $1,395, or $4,185 a month. If the triplex then appraises at $690,000, a 75% LTV DSCR refinance is $517,500, which pays off the bridge loan. Estimated principal and interest is about $3,583, taxes about $266 and insurance $260, so the payment is about $4,110 and DSCR is about 1.02x, above the 1.0x standard minimum.
The bridge loan is only as good as its exit. Before you close, know what rent and value the DSCR refinance will need, and check that recent sales of similar small income properties in the area support that value. We can run the refinance side up front so you know the target.
Remember that Colorado's 2024 just-cause eviction law can affect how quickly you can turn over below-market tenants. Building a lease-up plan around renewals rather than non-renewals is usually safer.
Be realistic about the rent you will achieve. Colorado Springs rents vary widely between the north side, the older core and the south side, and military housing allowances shape what many tenants will pay. Ask a local property manager for a rent opinion on each unit before you set your refinance target.
Insurance on a partly vacant property can cost more, and hail coverage matters if the roof is older. If the property is in a metro district, the extra mill levy is part of your carrying cost. Permits for unit renovations go through the Pikes Peak Regional Building Department, so build inspection time into the schedule.
Supplies and contractors can be scarce in the busy summer season, when PCS moves, hail repairs and new construction all compete for the same trades. If your plan depends on quick unit turns, line up your contractor before closing.
If the property needs a full renovation with a line-item budget, a fix and flip loan with rehab draws may fit better. A bridge loan is usually the right tool when the property is livable and the job is leasing, light work or simply closing fast.
Light cosmetic work such as paint, flooring and fixtures fits comfortably within a bridge plan.
Send the purchase contract, rent roll and leases, photos, the plan for vacant units and your exit plan on day one. Order title and insurance immediately. A complete file is what makes a 10-day close possible.
If the property has an HOA, request the governing documents and any leasing restrictions right away; HOA document turnaround is a common cause of delay.
Small rentals within easy reach of Fort Carson, Peterson and Schriever trade often because so many owners are themselves on orders. A bridge loan lets you buy a tenant-occupied duplex or triplex on a short timeline, then refinance once leases are renewed at market. Summer PCS season is when most turnover happens, so a purchase in spring gives you time to prepare units before peak leasing.
Our investor loans are business-purpose loans on non-owner-occupied property. Call (877) 298-1001 or use the form below with the address, price and closing date, and we will lay out the bridge terms and the refinance target together.
Rates start from 7.99%, with pricing based on the property, leverage, your experience and the exit plan.
Yes. Bridge loans can close in as little as 10 days when title, insurance and property details are ready.
Some bridge programs do not require an appraisal. The later DSCR refinance will use a valuation.
You sell the property or refinance into a DSCR loan. Plan the exit before closing so the timing works.
Yes, on 1-8 unit investment property. The new loan pays off the existing financing while you stabilize.
It can limit non-renewals for many tenancies. Build your lease-up plan around vacancies and renewals at market.
No. Our investor loans are business-purpose loans on non-owner-occupied property, so the home must be rented to a tenant, not lived in by you.
Bridge loans are short-term and interest-only, with the term set to fit your lease-up or sale plan. Plan the exit before closing.
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