A $1M+ bridge loan in Baltimore usually covers one of two things: a package of rowhomes that needs renovation and licensing before it can carry long-term debt, or a high-value property in Roland Park, Guilford or along the harbor that needs a fast close.
In short: LendingStreet offers residential investor bridge loans in the Baltimore area from $1M to $5M+ on 1-8 unit properties, with rates from 7.99%, interest-only terms and closings in as little as 10 days. In much of Baltimore, balances that large usually mean packages of rowhomes or several small buildings. Larger balances usually need a full valuation, and most borrowers exit through a blanket DSCR refinance, separate DSCR loans, a jumbo DSCR loan or a sale.
Rowhome packages are the most common: 10 to 25 houses from a retiring landlord or an estate in neighborhoods such as Belair-Edison, Hamilton, Pigtown, Highlandtown or Brooklyn. Some are leased, some are vacant, and many need updates before they can pass rental license inspections.
These packages often trade off-market, and sellers favor buyers who can close quickly and take the houses as they are. A bridge loan sized on the package, with a clear plan for each house, lets you compete with cash buyers.
High-value single properties include large homes in Roland Park, Guilford, Homeland and Mount Washington, renovated rowhomes and townhomes in Federal Hill, Canton, Little Italy and Harbor East, and homes in Towson, Ruxton and Ellicott City in the surrounding counties.
Many rowhomes in a package cannot qualify for long-term financing until they are renovated, licensed and leased. A bridge loan covers that period. Bridge money also helps when a seller needs a fast close, when buying at a tax sale or auction, and when paying off a maturing loan from another lender.
In much of Baltimore, a single rowhome is worth well under $300,000, so a $1M+ loan almost always means a group of properties. In Roland Park, Guilford and the harbor neighborhoods, single homes can justify large balances, but rents on those homes often fall short of what a DSCR loan needs, so a sale or a lower-leverage jumbo DSCR refinance is the likely exit.
This example is illustrative and not a quote. An investor buys 16 rowhomes in Hamilton, Belair-Edison and Pigtown from an estate for $2,560,000. Six are vacant and need work to pass rental license and lead inspections. The bridge loan is $1,920,000, interest-only, with estimated monthly interest of about $16,000.
After renovation and lease-up, the homes rent for $1,850 each, $29,600 a month in total, and appraise at $2,900,000. A blanket DSCR refinance of $2,030,000, 70% of value, pays off the bridge. Estimated principal and interest on a 30-year term is about $13,848, plus $5,400 in city taxes and $1,760 in insurance, for about $21,008 a month. Portfolio DSCR is about 1.41x.
| Stage | Amount |
|---|---|
| Purchase price (16 rowhomes) | $2,560,000 |
| Bridge loan | $1,920,000 |
| Estimated monthly interest on bridge | $16,000 |
| Value after renovation and lease-up | $2,900,000 |
| Blanket DSCR loan at 70% LTV | $2,030,000 |
| Monthly payment with taxes and insurance | $21,008 |
| Combined rent | $29,600 |
| Portfolio DSCR | 1.41x |
Every Baltimore City rental needs a license and inspection, and pre-1978 rentals must meet Maryland's lead standards. A DSCR lender will want licensed, leased units. Build the inspection and lead work into your renovation schedule so the refinance is not delayed by paperwork.
Lead risk reduction work, licensing inspections and any city permits for renovation all take time. On a 16-house package, a few weeks of delay per house adds up to months of bridge interest, so line up licensed lead contractors and inspectors before you close.
Vacant buildings in Baltimore can also carry vacant building notices with their own requirements. Check each address before closing.
Larger balances usually need a full valuation, often an appraisal on each property. Rowhome values can change sharply from block to block, so give the appraiser recent sales and leases for each street. Title work can surface ground rents, old liens and municipal charges, which take time to clear on a big package.
Underwriters also look closely at experience on a package this size: how many rowhomes you have renovated and licensed in Baltimore, who will manage them and how much cash you will have after closing.
Package discounts are common, and lenders usually size loans on the lower of purchase price and appraised value.
If the package includes houses you plan to sell rather than rent, say so up front. The bridge can be structured so that sale proceeds pay down the loan, and the refinance covers only the houses you keep.
Neighborhood mix matters for the exit as well. A package that combines houses in steadier areas such as Hamilton with houses on weaker blocks may need lower leverage on the refinance, so expect the underwriter to look at each street.
Baltimore City charges transfer and recordation taxes that are among the highest in Maryland, along with state transfer tax. On a $2M+ purchase, those taxes are a significant line in your budget. Ask your title company for the full figure before you finalize your offer.
Property taxes during the hold are another carrying cost. City rates are high, and the bill continues whether a house is leased or vacant. Budget taxes, insurance and bridge interest for a realistic renovation and lease-up period, plus a cushion.
A complete file gets a faster answer.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the deal summary and we will size the bridge, check the exit and return options. Call (877) 298-1001 or use the form below to get a quote.
Residential investor bridge loans run from $150,000 to $5M+, with $1M+ balances reviewed case by case.
Rates start from 7.99%. Pricing depends on leverage, experience and the exit.
Usually yes. Larger balances normally need a full valuation.
Often, though timelines are tight and title can be complicated. Talk to us before the sale.
For a DSCR refinance, lenders generally want licensed, leased units in Baltimore City.
In as little as 10 days when title, valuation and documents are ready, though big packages often take longer.
Yes, on investment property. Plan the exit carefully, since large homes there often rent for less than a DSCR loan needs at normal leverage.
No. Buildings with nine or more units are commercial loans.
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