Most single buildings in Bridgeport sell well under $1M. When an investor here needs a $1M to $5M+ bridge loan, it is usually for a package of buildings, or for a high-value property in one of the towns next door.
In short: LendingStreet makes residential investor bridge loans in the Bridgeport area 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 usually need a full valuation and are reviewed case by case. Typical exits are a sale or a refinance into DSCR, blanket or jumbo DSCR loans.
Bridgeport's two- and three-family buildings often trade between roughly $350,000 and $650,000. A large bridge loan here usually means several properties at once. Situations we see include:
Our residential investor bridge program covers $150,000 to $5M+ on 1 to 8 unit properties. Rates start at 7.99% for strong files. Terms are short and interest-only, and closings can happen in as little as 10 days with a complete file.
On a multi-property package, each building is typically valued, and renovation funds are usually held back and released as work is completed and inspected. Your experience with similar buildings and your liquidity carry weight on larger loans.
Leverage on a package depends on the mix. Fully leased buildings with stable rents support more than vacant buildings that need major work, and the loan amount is often set building by building and then added up.
This example is illustrative and not a quote. An investor agrees to buy six two- and three-family buildings, 15 units in all, across the East Side and West End for $2,600,000. Several units are vacant or leased below market, and the plan calls for $350,000 of renovations.
The bridge loan covers 75% of the purchase price plus the renovation budget, for a total of $2,300,000. Estimated monthly interest-only payments are about $19,167. After the work, the 15 units lease at about $1,950 on average, or $29,250 a month.
If the package appraises at $3,400,000, a blanket DSCR refinance at 70% of value would be $2,380,000, enough to retire the bridge. Estimated principal and interest is about $16,398; with taxes and insurance of about $9,900 a month for the six buildings, the total payment is about $26,298 and portfolio DSCR is about 1.11x.
| Stage | Amount |
|---|---|
| Purchase price, six buildings | $2,600,000 |
| Renovation budget | $350,000 |
| Bridge loan (75% of price plus renovation) | $2,300,000 |
| Estimated monthly interest-only payment | $19,167 |
| Stabilized rent, 15 units | $29,250 |
| Value after work | $3,400,000 |
| Blanket DSCR refinance at 70% | $2,380,000 |
| DSCR after refinance | About 1.11x |
Connecticut assesses property at a 70% assessment ratio of market value, and Bridgeport's mill rate is among the higher ones in the state. In the example, taxes are the largest expense after the loan payment. When you size an exit, use current tax bills, and remember that a renovated building may be reassessed at the next revaluation.
In Fairfield, Westport or Trumbull, mill rates are lower but values are higher, so the tax bill on a $2M home is still significant. For a single high-value rental, a jumbo DSCR exit runs roughly $1.5M to $5M+, and max LTV varies by program.
In Connecticut, the seller usually pays the state and municipal conveyance taxes, and the state has no mortgage recording tax. Buyers pay title insurance, attorney fees and recording fees; closings are typically handled by attorneys. On a multi-property package, each deed and mortgage is recorded separately. Confirm the costs with your closing attorney.
Title work on older Bridgeport buildings can turn up old liens, unpaid water and sewer charges or blight-related fines. Order title early on a package so problems on one building do not delay the whole closing, and ask the seller to clear known issues before the closing date.
Bridgeport renovations often include roofs, porches, heating systems and lead work on pre-1978 buildings. Permits go through the city's building department, and timelines vary. Build a cushion into the bridge term.
While units are vacant, you carry interest, taxes, insurance and utilities. On a 15-unit package, a few months of vacancy can cost tens of thousands of dollars, so budget for it.
Phasing helps. Many investors renovate and lease one or two buildings at a time, so rent starts coming in on finished units while work continues on the rest.
| Cost during the term | Typical driver | Planning tip |
|---|---|---|
| Interest | Loan size | Interest-only, paid monthly |
| Property taxes | High mill rate | Use current bills |
| Insurance | Vacant units, older buildings | Get a builder's risk or vacancy quote |
| Utilities | Vacant units, owner-paid heat | Budget through lease-up |
A package is often refinanced into one blanket DSCR loan, which needs at least five properties, or into individual DSCR loans if you plan to sell some buildings later. A single high-value home may go to a jumbo DSCR loan. Selling some buildings and refinancing the rest is also common. Single-family homes in the package can sell to owner-occupant buyers at strong prices, while the three-families stay as rentals. Our bridge to DSCR guide covers timing and seasoning.
Send the addresses, purchase price, renovation budget, current rent roll and your exit plan. Use the form below or call (877) 298-1001, and tell us when you need to close.
For packages, a simple spreadsheet listing each building's address, unit count, current rent, occupancy and planned work makes review much faster. Include a short summary of similar projects you have completed in Bridgeport or nearby, since experience with this type of building matters on large balances.
Our residential investor bridge program goes from $150,000 to $5M+, with larger balances reviewed case by case.
Yes, as long as each property has 1 to 8 units. Packages of two- and three-families are common.
Larger balances usually need a full valuation of each property.
Rates start from 7.99% for strong files. Large balances are priced case by case.
As little as 10 days with a complete file. Multi-property packages can take longer.
Yes, if it is a 1-8 unit investment property, not a home you will live in.
A sale or a refinance into a DSCR, blanket or jumbo DSCR loan that the rent supports.
The seller usually pays the state and municipal conveyance taxes.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.