In Boston, a million dollars buys one triple-decker in a good Dorchester location, and a three-building package can pass $3M before any work is done. Investors chasing those deals need short-term money that can close on the seller's schedule.
In short: LendingStreet makes residential investor bridge loans in Boston from $1M to $5M+ on 1 to 8 unit properties, with rates from 7.99%, interest-only payments and closings in as little as 10 days. Larger balances are reviewed case by case and usually need a full valuation. Typical exits are a sale or a refinance into a DSCR or jumbo DSCR loan once the property is stabilized.
Boston's high prices push ordinary deals into large-loan territory. Common situations we see:
Our residential investor bridge program runs from $150,000 to $5M+ on 1 to 8 unit properties, so a $1M to $5M+ request is within range. Rates start at 7.99% for strong files. Terms are short and interest-only. Closings can happen in as little as 10 days when the file is complete.
On larger Boston loans, expect a full valuation, a closer look at the renovation budget and your experience, and higher liquidity requirements. Leverage depends on the deal; a package with stable rents and a clear exit will get a different answer than a gut renovation.
This example is illustrative and not a quote. An investor buys three Dorchester triple-deckers from one seller for $3,300,000 total, with $240,000 of work planned to update kitchens, porches and systems. Several units are leased well below market.
The bridge loan covers 75% of the purchase price plus the renovation budget, for a total of $2,715,000. Estimated monthly interest-only payments are about $22,625. After the work and new leases, the nine units rent for about $3,250 each, or $29,250 a month.
If the package appraises at $3,750,000, a DSCR refinance at 70% LTV would be about $2,625,000, enough to retire the bridge loan. Estimated principal and interest is about $18,086; with taxes and insurance of about $4,590 for the three buildings, the total payment is about $22,676 and DSCR is about 1.29x. If the investor kept all three under one note, that would be a blanket loan.
| Stage | Amount |
|---|---|
| Purchase price, three buildings | $3,300,000 |
| Renovation budget | $240,000 |
| Bridge loan (75% of price plus renovation) | $2,715,000 |
| Estimated monthly interest-only payment | $22,625 |
| Stabilized rent, nine units | $29,250 |
| Value after work | $3,750,000 |
| DSCR refinance at 70% LTV | $2,625,000 |
| DSCR after refinance | About 1.29x |
Some large Boston bridge loans are on one property: a Back Bay or Beacon Hill townhouse split into units, a South Boston three-family near the water, or a Jamaica Plain Victorian two-family on a large lot. Values on these can reach $2M to $5M+. Comparable sales are fewer, so the valuation can take more time. Recent sales and leases of similar buildings will help.
If the plan is a jumbo DSCR refinance on a single high-value rental, remember that the rent has to support the payment. Brownstones often lease well but carry high condo fees or building costs; run the exit math before you commit to the purchase.
In Massachusetts, the seller typically pays the deed excise, often called deed stamps, and Massachusetts has no mortgage recording tax. Buyers pay title insurance, recording fees and attorney fees; Massachusetts closings are usually handled by attorneys. Confirm amounts with your closing attorney.
During the bridge term, you carry interest, taxes, insurance and utilities on vacant units. Boston's residential exemption does not apply to investment property, so the tax bill on an owner-occupied building you buy will rise. Lead paint compliance on pre-1978 buildings and Boston rental registration are also part of the work plan.
Many Boston buildings need more than paint. Porches on triple-deckers, failing oil systems, knob-and-tube wiring and lead abatement can push a renovation budget into six figures per building. When renovation dollars are part of the loan, funds are usually held back and released as work is completed and inspected, so you need cash to start each phase.
Permits in Boston go through Inspectional Services, and larger scopes can take time to approve. Build the permit timeline into your bridge term, and add a cushion. A bridge loan that matures before the work is finished forces an extension or a refinance at a weaker moment.
Tenant-occupied buildings add another layer. Leases in place have to be honored, and work around occupied units moves slower. Many investors plan renovations around the September 1 turnover, when units near colleges empty out together.
Most Boston investors exit large bridge loans by refinancing into DSCR loans once units are leased. A package can go to individual DSCR loans or one blanket loan. A single high-value property may go to a jumbo DSCR loan, which runs roughly $1.5M to $5M+ with leverage that varies by program. Selling one building and refinancing the rest is also common.
| Exit | Fits when | What to watch |
|---|---|---|
| Sale | Value-add plan, strong resale market | Holding costs if the sale takes longer |
| DSCR refinance | Units leased, rent supports payment | Appraised value and seasoning rules |
| Jumbo DSCR | Single high-value rental, $1.5M+ | Lower max LTV on larger balances |
| Blanket loan | Five or more properties | Release terms for future sales |
Send the property addresses, purchase price, renovation budget, rent roll and your exit plan. Tell us your closing date and whether the seller needs proof of funds. Experience matters on large balances, so a short list of past projects, with addresses and outcomes, will help. Use the form below or call (877) 298-1001, and our team will come back with structure and terms.
Our residential investor bridge program goes from $150,000 to $5M+. Larger balances are reviewed case by case.
As little as 10 days with a complete file, though larger loans with full valuations can take longer.
Larger balances usually need a full valuation of the property or properties.
Rates start from 7.99% for strong files. Pricing on large balances is set case by case.
Yes, as long as each property is 1 to 8 units. Packages of triple-deckers are common in Boston.
Yes. Paying off a maturing short-term or private loan while you stabilize the property is a common use.
A sale or a refinance into a DSCR, jumbo DSCR or blanket loan, supported by realistic rents and values.
Not under this residential program. Buildings with 9 or more units are commercial loans.
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