In a market with little inventory, the investor who can close fast and clean often gets the deal. Seacoast bridge loans exist for exactly that window: buy now, stabilize, then refinance or sell.
In short: LendingStreet offers residential investor bridge loans on 1-8 unit properties in Portsmouth and the Seacoast from $150,000 to $5M+, with rates from 7.99%. Loans can close in as little as 10 days, are short-term and interest-only, and some bridge programs require no appraisal. Most borrowers exit by selling or refinancing into a DSCR loan.
Seacoast listings that make sense for investors are scarce, and sellers often favor offers with short closing dates and few contingencies. A bridge loan lets you compete with cash buyers, then move the property into long-term financing once it is leased or repaired.
Common uses include buying a Rochester or Dover multi-family before the rent roll is stabilized, closing on an estate sale in Portsmouth that needs light work, buying a new rental before you sell another, and paying off a maturing loan from a local bank.
A bridge loan can also help when a long-term lender will not finance the property in its current condition, such as a building with vacant units, an expired certificate for a unit, or minor repairs that must be finished before a DSCR appraisal. The bridge covers that short gap, and the plan turns it into a property that qualifies for permanent financing.
Because the Seacoast market moves quickly in spring and summer, having a bridge option lined up before you make offers can be the difference between winning and losing a deal.
Each of these terms is set per deal. Leverage, pricing and whether a valuation is needed depend on the property, your experience and the strength of the exit. A short, clear plan usually gets the best terms.
This example is illustrative and not a quote. An investor wins a Rochester fourplex for $640,000 by offering a 10-day close. Two units are vacant and need paint and flooring. The bridge loan is $480,000, 75% of price, and estimated interest-only payments are about $4,200 a month.
After 8 months, all four units are leased at $1,450, or $5,800 a month, and the building appraises at $700,000. A 75% LTV DSCR refinance gives a $525,000 loan, which repays the bridge. Estimated principal and interest is about $3,671; with taxes of $1,150 and insurance of $260, the payment is about $5,081 and DSCR is about 1.14x.
| Stage | Bridge | DSCR refinance |
|---|---|---|
| Value used | $640,000 | $700,000 |
| Loan amount | $480,000 | $525,000 |
| Monthly payment | $4,200 interest-only | $5,081 with taxes and insurance |
| Rent | Partly vacant | $5,800 |
| DSCR | Not required | 1.14x |
Bridge loans work best when the plan is short and specific. In Portsmouth that might be a condo in an older conversion that needs association paperwork cleaned up, or a two-family with below-market leases expiring within a year. In Dover and Somersworth, it is often a multi-family with deferred maintenance that a long-term lender would discount today.
On the Portsmouth side of the market, bridge loans are also used by investors who are selling one rental and buying another and do not want the purchase to depend on the sale. The bridge lets you close first, then pay it down when the other property sells.
In every case, the value of the plan depends on the numbers at the exit. Be realistic about rent, repair time and the season in which you will sell or refinance.
Run the refinance math at the start. Rochester and Somersworth tax rates per $1,000 are higher than Portsmouth's, and New Hampshire towns reappraise at least every five years, so use a realistic tax figure for the refinance payment. If the rent will not reach about 1.0x at the leverage you need, plan for a sale or a lower refinance amount.
The state transfer tax is split between buyer and seller, $0.75 per $100 on each side under current law, so a bridge purchase triggers it at closing. A refinance does not. Title insurance, recording, the bridge lender fee and insurance round out the costs. Confirm amounts with your title company.
Ask your title company early whether the seller has any liens, unpaid taxes or estate issues that could slow the closing. On older Seacoast properties, title questions are a common reason a fast close slips by a few days.
Fast closings depend on paperwork more than on the loan program. Order title as soon as your offer is accepted, line up an insurance agent who can bind coverage on an older building, and have your LLC documents and bank statements ready. Tell us about any repairs and your timeline, so the loan term fits the plan.
If the property is already leased and the ratio clears 1.0x, a DSCR loan is usually cheaper from day one. If the project is a heavy renovation, a fix and flip loan with a rehab holdback may suit it better. For new homes, see our construction loans.
A bridge loan also does not replace a careful inspection. Old Seacoast buildings can have boiler, roof, wiring and lead paint issues that change the plan. Inspect before you close, even on a fast timeline.
Send the address, price, closing date, current rents and your plan for the exit. Our investor loans are business-purpose loans on non-owner-occupied property. Call (877) 298-1001 or fill out the form below for a fast answer.
In as little as 10 days when title, insurance and documents are ready.
Rates start from 7.99%. Your pricing depends on leverage, experience and the property.
Some bridge programs require no appraisal. Others use a valuation, especially on larger or unusual properties.
Yes. That is a common use. The sale of the other property can be your exit.
A sale, or a refinance into a DSCR loan once the property is leased and the rent supports the payment.
Yes. Bridge loans cover 1-8 unit residential properties.
Yes. Bridge loans are short-term and interest-only.
Yes, as long as there is a clear plan to sell or refinance within the term.
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