Some of the best Fresno buys are the messiest: an estate sale with tenants long gone, a fourplex with half the units empty, a house that needs registry inspection repairs before anyone can move in. Long-term lenders pass on those. A bridge loan does not have to.
In short: LendingStreet makes short-term, interest-only bridge loans on 1-8 unit investment property in Fresno, Clovis and Fresno County, from $150,000 to $5M+, with rates from 7.99% and closings in as little as 10 days. Some bridge programs need no appraisal. Fresno investors use them for estate and probate purchases, vacant or under-rented small multifamily, and quick closings, then sell or refinance into a 30-year DSCR loan.
Bridge loans carry properties through the stretch before they qualify for long-term financing.
The common thread is timing. Each situation has a window, a court date, a trustee deadline or a competing buyer, and long-term lenders usually cannot close within it on a property that is not yet rented or repaired.
Fresno has many long-held homes and small rental buildings owned by the same families for decades. When they sell through an estate, a trust or probate, the property is often vacant, dated and sold as-is. Some probate sales require court confirmation, which can open the sale to overbids and add time.
A bridge loan can close on the timeline the sale requires and fund a property a long-term lender would decline because of its condition. Have your financing lined up before the confirmation hearing or the trustee's deadline.
Older estate properties may also need a title search that clears old liens or heirs, so order title early.
This example is illustrative and not a quote. An investor buys a central Fresno fourplex for $640,000 with two units vacant and two rented below market. A bridge loan at 75% of the price is $480,000, with estimated interest-only payments of about $4,000 a month.
Over the next several months the investor repairs the vacant units, completes the city's rental registry requirements and leases all four units at $1,450, for $5,800 a month. The building appraises at $720,000. A DSCR loan at 75% LTV, $540,000, pays off the bridge. Estimated principal and interest is about $3,684; with $640 in taxes and $260 in insurance the payment is about $4,584, a DSCR of about 1.27x.
The bridge interest over six months adds up, so the plan depends on getting units leased quickly. In central Fresno, well-repaired units with working air conditioning typically lease faster than dated ones, which is worth considering when you set the repair budget.
| Timeline | What happens | Monthly loan cost |
|---|---|---|
| Month 0 | Close on bridge loan of $480,000 | $4,000 interest-only |
| Months 1-4 | Repair vacant units, register and inspect | Bridge interest continues |
| Months 4-6 | Lease all four units at $1,450 | Bridge interest continues |
| Month 6 | DSCR loan of $540,000 pays off bridge | $4,584 with taxes and insurance |
Inside city limits, Fresno's rental housing rules require rental units to be registered and allow inspections for health and safety. Common issues in older buildings include broken windows, missing smoke detectors, plumbing leaks, pest problems and failing air conditioning. Budget the fixes into your bridge period so the units are ready to lease and pass any inspection.
Clovis and unincorporated Fresno County follow their own housing and code rules, so confirm what applies to the property's address before you set the repair scope. Older buildings may also need permits for electrical or plumbing repairs, which adds time.
Residential bridge loans on 1-8 unit properties run from $150,000 to $5M+, with rates from 7.99%. They are short-term and interest-only, which keeps the carrying cost manageable while the property is not fully earning. Leverage depends on the property, your experience and your exit.
Air conditioning deserves special attention. A unit without working cooling is hard to lease in a Fresno summer and can be a habitability problem, so budget for repairs or replacements before you start showing units.
Under Proposition 13, a California property is reassessed to its purchase price when it sells, and the base tax is 1% of assessed value plus voter-approved bonds and any special assessments. Your carrying costs during the bridge should use a tax figure based on your purchase price, and the county's supplemental bill will arrive after closing. Include it in your budget so it does not surprise you mid-project.
Because bridge loans are short-term, set a realistic schedule for repairs, registry and lease-up, and add a few months of cushion. Extensions may be available on some programs, but planning for them up front is better than asking for one at the last minute.
Most Fresno bridge loans end with a DSCR refinance once the property is leased, or a sale after repairs. On small multifamily, remember that the statewide Tenant Protection Act generally limits rent increases on buildings more than 15 years old, so plan rents for vacant units at market when you lease them rather than counting on large increases for existing tenants later.
Insurance on a partly vacant building can also cost more until units are leased, so get a quote that matches the property's actual occupancy.
Send the address, price, unit mix, current rents, sale terms and your plan through the form below, or call (877) 298-1001. Our investor loans are business-purpose loans on non-owner-occupied property. We will lay out the bridge and the refinance side by side.
Selling is a valid exit too. A repaired, fully leased fourplex is attractive to Fresno buyers who want a turnkey rental, and selling can make sense if the price exceeds what the rent supports as a long-term loan.
If the property is part of an estate or probate sale, include the sale terms, any court date and the trustee or administrator's contact.
In as little as 10 days with a complete file and clear title.
Rates start from 7.99%, with final terms based on leverage, the property and your experience.
Some bridge programs need no appraisal; others use one depending on leverage and the property.
Often, yes, if the timeline and title work allow it. Talk to us before the court confirmation or trustee deadline.
Yes. Carrying a building through lease-up is one of the most common uses.
Usually, once the property is leased and the rent covers the new payment.
Yes, across Fresno County and neighboring counties.
No. These are business-purpose loans on non-owner-occupied investment property.
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