Huntington's rental year starts in August, when Marshall students move in. Investors who buy a tired house in spring have only a few months to close, repair and lease it, and that is where short-term money earns its keep.
In short: LendingStreet offers short-term, interest-only bridge loans on 1-8 unit investment property in Huntington and nearby Cabell and Wayne county towns, from $150,000 to $5M+ with rates from 7.99%. Bridge loans can close in as little as 10 days, some programs close with no appraisal, and the exit is a sale or a refinance into a DSCR loan. Local investors use them to beat the leasing calendar, buy off-market and pay off maturing loans.
Student leases near campus typically begin in August. A house bought in March or April with vacant units needs to close fast, get repairs done in early summer and be shown to students before they commit elsewhere. A long-term DSCR loan can take longer to arrange and may not work on a vacant, unrepaired property. A bridge loan can close quickly and give you time to lease up before you refinance.
Spring is when the timing is tightest. Landlords who want out often list after the fall semester, and the investor who can close, repair and lease before students sign for August captures a full year of rent.
Bridge loans fill the gap between buying a property and qualifying it for long-term financing.
Bridge loans also suit properties outside the student market, such as a Southside home bought at an estate sale that needs updates before it can be rented or sold, or a house in Barboursville bought before the investor's current rental closes.
This example is illustrative and not a quote. An investor buys a triplex near Marshall in April for $210,000. Two units are empty. The bridge loan is 75% of the purchase, $157,500, with interest-only payments of about $1,280 a month, or about $7,678 over 6 months.
After cosmetic repairs, all three units are leased for August at a combined $2,250 a month. The building appraises at $255,000. A 75% LTV DSCR refinance produces a $191,250 loan, enough to pay off the bridge and return some of the investor's cash. The new payment, including estimated principal and interest, taxes and insurance, is about $1,762, for a DSCR of about 1.28x.
| Milestone | Timing | Amount |
|---|---|---|
| Purchase with bridge loan | April | $157,500 |
| Repairs and showings | May to July | Investor funds |
| Leases begin | August | $2,250 per month |
| DSCR refinance | After lease-up | $191,250 |
Before you close a bridge loan, know how you will repay it. For most Huntington rentals that means a DSCR refinance, so estimate rent, taxes at the non-owner-occupied class and insurance with flood determination. If those numbers will not produce a DSCR of at least 1.0x, adjust the purchase price, the repair plan or the expected leverage before you commit.
If you plan to sell, look at days on market for similar homes in the neighborhood, and choose a term with room for a slow season.
If the property is in a mapped flood zone, add the flood premium to the refinance payment now. It is easy to miss on a short bridge loan and hard to fix once the DSCR loan is being underwritten.
Some bridge programs close without an appraisal, which helps when a seller wants a quick, clean closing. We still review the purchase price, condition, rent potential, your experience and your exit plan. Larger balances or unusual properties may need a valuation.
Tell us who will handle repairs and leasing. A landlord with existing student rentals in Huntington, a local crew and a property manager is in a strong position, and that experience can shape the terms we offer.
West Virginia charges a transfer excise tax when a deed is recorded, with a state and county portion, commonly paid by the seller though contracts vary. Buyers usually pay title insurance, recording fees and lender fees, and pay the first year of insurance in advance. Deeds are recorded with the Cabell County or Wayne County clerk, depending on location.
Ask your title company early about any liens, unpaid taxes or estate issues. Older Huntington properties sometimes carry title questions from decades past, and clearing them before closing keeps a fast bridge timeline on track.
Once the property is leased and repairs are done, you can refinance into a long-term DSCR loan. Some programs look at how long you have owned the property before using the new value, so build that into your bridge term. Our bridge-to-DSCR guide covers the steps and timing.
If you miss the August lease-up, a property near campus can sit partly empty until the next cycle. Build that risk into your term, or plan to lease to non-student tenants if the timing slips.
Send the address, price, current rents, repair plan and exit strategy. We will tell you the likely loan amount, whether a no-appraisal program may fit and how fast we can close. If you are working against the August lease date, say so up front so we can plan the timeline with you.
We can also outline the DSCR refinance terms you would likely see, so the exit is clear before you close.
Rates start from 7.99%. Your terms depend on the property, leverage, experience and exit plan. A clear exit plan and local experience can help.
Often, yes. Bridge loans can close in as little as 10 days when title and insurance are ready, which leaves the summer for repairs and showings.
Some bridge programs close without one. Others need a valuation depending on the property and loan size.
Bridge loans are short-term and interest-only. Choose a term that covers repairs, lease-up and the refinance with some cushion. Many Huntington investors choose six to twelve months.
Yes, for properties with 1 to 8 units. Buildings with 9 or more units are commercial.
You can sell, or improve rents or lower leverage to raise the DSCR. Check the refinance math before you close.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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