In Bend, a $1M bridge loan can be a single west-side home. At $2M to $5M it is more often a finished townhome or middle housing project waiting to sell or refinance, or a package of rentals across Central Oregon.
In short: LendingStreet offers residential investor bridge loans from $1M to $5M+ in Bend and Central Oregon, with rates from 7.99%, interest-only payments and closings in as little as 10 days. Larger balances usually need a full valuation and are reviewed case by case. Typical uses are high-value purchases, payoff of maturing construction loans on 1-8 unit projects, and packages of rentals, with exits by sale or a DSCR or jumbo DSCR refinance.
High-value homes on Awbrey Butte, in NorthWest Crossing, Tetherow, Broken Top and along the Deschutes River regularly sell above $1M. Investors use bridge loans to close quickly on these, renovate and sell, or hold while arranging long-term financing.
The other common source is infill development. Middle housing and townhome projects built under Bend's updated code often finish with a construction loan maturing before every unit sells or leases. A bridge loan pays off the construction lender and gives the owner time.
A third source is timing. Sellers of high-value homes in Bend often want a firm, quick close, and an investor with bridge financing in place can compete with cash buyers, then refinance or sell on their own schedule.
Residential investor bridge loans run from $150,000 to $5M+, with rates from 7.99%, interest-only payments and short terms. Closings can happen in as little as 10 days when title and valuation move quickly.
Above $1M, expect a full valuation, review of your experience and liquidity, and leverage set per deal. In a market where long-term rents rarely cover high prices at high leverage, the exit plan gets close attention.
This example is illustrative and not a quote. A builder-investor finishes six townhomes on an infill site. The construction loan matures with $2,100,000 owed, and the units are valued at $3,300,000 combined. A bridge loan of $2,100,000 pays it off. The estimated interest-only payment is about $18,375 a month.
The six units would rent for $15,600 a month. A DSCR refinance on all six at 60% of value, $1,980,000, would produce a DSCR of about 1.00x, too tight. Instead, the owner sells one townhome and uses the net proceeds to pay the bridge down to $1,585,000. The remaining five units, worth $2,750,000 and renting for $13,000, refinance at about 58% of value, with estimated principal and interest of about $11,083, taxes and insurance of $1,500, and DSCR of about 1.03x.
| Stage | Amount | Notes |
|---|---|---|
| Construction loan payoff | $2,100,000 | Paid by the bridge loan |
| Bridge interest-only payment | About $18,375 a month | During lease-up and sale |
| Sale of one townhome | Net proceeds to the bridge | Balance falls to $1,585,000 |
| DSCR refinance on five units | $1,585,000 | About 58% of $2,750,000 |
| Refinance DSCR | About 1.03x | At $13,000 rent |
Luxury and view homes on Awbrey Butte or along the river can have few direct comparable sales, and appraisers may need to reach across neighborhoods. Resort properties at Tetherow or Broken Top have their own sales history and HOA factors.
For projects, the valuation looks at each unit and at the absorption of similar units nearby. Bring sales and lease data for comparable new townhomes to support your numbers.
Seasonality affects Bend sales too. Listings and buyer activity tend to pick up in spring and summer, so a project finishing in late fall may need a longer hold. Size the bridge term with that in mind.
Sale is the most common exit for single high-value homes and for-sale townhome projects. For rentals, a DSCR or jumbo DSCR refinance works when leverage is set so rent clears the minimum, which in Bend often means 55% to 65% of value.
If a home can legally operate as a short-term rental, an STR DSCR program using projected revenue may support more leverage, but the city's permit and spacing rules decide whether that is possible.
Whichever exit you choose, run it before you close the bridge. Use the real tax figure for new construction, a wildfire-aware insurance quote and rents or sale prices supported by recent comparables.
Deschutes County has no real estate transfer tax. Property taxes follow Measure 50, but new construction is added to the rolls when complete, so a finished project's first full bill can be higher than buyers expect.
System development charges are paid at permit, not at the bridge, but they shape project budgets. Insurance for wildfire exposure and builder's risk to permanent coverage transitions should be lined up before closing.
Some investors buy several rentals at once from owners who are retiring or relocating. A bridge loan on the package lets you close on one timeline, then move the stabilized group into a blanket portfolio loan with release provisions.
Redmond and Prineville properties often strengthen the cash flow of a package that includes Bend homes.
Each property in a package is valued and inspected on its own, and the bridge is sized on the combined figures. Ask about partial releases at the start if you plan to sell some homes and keep others, so the paydown for each one is written into the loan rather than negotiated later. Bend and Redmond properties often sell on different timelines, so a clear release schedule keeps the plan flexible.
Send the property or project details, purchase price or payoff letter, current and projected rents or sale prices, and your exit timeline. LendingStreet will size the bridge and model the exit so you see both stages up front.
Our investor loans are business-purpose loans on non-owner-occupied property. Call (877) 298-1001 or use the form below to get a quote.
Residential investor bridge loans run from $150,000 to $5M+, with larger balances reviewed case by case.
Larger balances usually need a full valuation, especially on high-value homes and multi-unit projects.
Yes, on 1-8 unit projects that are complete or nearly complete. Bring the payoff letter and your sale or lease-up plan.
Bridge loans are interest-only; principal is repaid at sale or refinance.
Yes, if the rent supports the payment. On high-value homes, that usually means lower leverage.
The bridge program starts at 7.99%. Large-balance pricing depends on leverage, the property and your experience.
As little as 10 days when title and valuation move quickly.
No. Our investor loans are business-purpose loans on non-owner-occupied property. Every unit has to be held as a rental.
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