In a market where a typical rental sells well under $300,000, a $1M-plus bridge loan in Columbia almost always means more than one property: a landlord's whole portfolio, a cluster of student rentals, or a group of small buildings. The exceptions are a few high-end homes and Lake Murray waterfront.
In short: LendingStreet provides large residential investor bridge loans in the Columbia area from $1M to $5M+, within a bridge program that runs from $150,000 to $5M+, with rates from 7.99%. Loans are short-term and interest-only, close in as little as 10 days and exit through a sale or a refinance into DSCR, blanket or jumbo DSCR financing. Larger balances are reviewed case by case and usually need a full valuation of each property.
Columbia prices are moderate, so balances above $1M usually come from packages. Common examples include eight to fifteen houses from a retiring landlord spread across Rosewood, Earlewood and West Columbia; a group of student duplexes near USC sold together before the August lease cycle; or several fourplexes along the same corridor. Say plainly when you apply that the loan covers a package, and list every address.
Single properties above $1M exist, mainly waterfront homes on Lake Murray, larger homes in Forest Acres and the Heathwood and Wales Garden areas, and some new construction in Lexington and Blythewood. Those are fewer, and their resale and rental comps are thinner.
Portfolio sales are common here because many Columbia landlords bought steadily in the 1990s and 2000s and are now ready to retire. They often prefer one buyer, one closing and a firm date over selling houses one at a time. A bridge loan lets you meet that timeline and sort out permanent financing after the homes are stabilized.
This example is illustrative and not a quote. An investor buys twelve rentals across Richland and Lexington counties for $1,380,000. The bridge loan is sized at 75% of the purchase price, $1,035,000, interest-only, with estimated monthly interest of $9,056. Over a 9-month hold, the investor fills three vacancies, brings below-market leases up and handles deferred repairs.
At exit the twelve homes are valued at $1,560,000 and rent for $12,900 a month. A refinance at 70% of value is $1,092,000, enough to retire the bridge. Estimated principal and interest is $7,635, and with $2,650 in monthly taxes at the 6% assessment ratio and $950 in insurance the payment is $11,235, a DSCR of about 1.15x.
| Stage | Amount |
|---|---|
| Package purchase price | $1,380,000 |
| Bridge loan (75% of price) | $1,035,000 |
| Estimated monthly interest-only payment | $9,056 |
| Interest over 9 months | $81,506 |
| Value at exit | $1,560,000 |
| Refinance loan (70% of value) | $1,092,000 |
| Monthly rent at exit | $12,900 |
| Monthly taxes at exit | $2,650 |
| Exit DSCR | About 1.15x |
Some smaller bridge programs close without an appraisal, but at these balances expect a full valuation, and on a package, one for each property. Columbia neighborhoods vary block by block, so values in Rosewood or Shandon do not carry over to a house a mile away. Allow time for appraisers to complete a dozen reports.
Order property inspections early. Many older Columbia houses have crawl spaces, older roofs and original plumbing, and repairs found after closing come out of your bridge period.
Large balances also bring a closer look at the borrower: experience with similar properties, liquidity after closing and the number of projects already underway. A first-time investor buying twelve houses will usually be asked for more equity or a partner with a track record.
A sale in South Carolina is an assessable transfer of interest, so each house can be revalued to your purchase price. Rentals are taxed at a 6% assessment ratio, and the next tax bills on a twelve-house package can be noticeably higher than the seller's. Your exit lender will use the real figure. Build it into the exit DSCR before you close the bridge, as the example above does.
A package of houses usually exits into a blanket portfolio loan or several DSCR loans. A high-value lake home might exit into a jumbo DSCR loan if rent supports it, or be sold.
If you plan to sell part of the package, think about which houses to keep before you choose the exit loan. A blanket loan with release provisions can let you sell a few houses over time while holding the rest, but the release price is set in the loan documents, so model it before you commit.
Student rentals near USC lease on an annual cycle, with most leases signed months ahead for an August start. A bridge loan that closes in the spring gives you time to turn units and sign leases; one that closes in September may leave units empty until the following year. Ask about extension terms before you need them.
The same timing applies to Fort Jackson-area rentals in a smaller way. Military households tend to move in summer, so homes that come vacant in winter can take longer to fill.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the package summary and we will size the bridge, test the exit DSCR with realistic South Carolina taxes and outline a closing timeline. The South Carolina large bridge page covers Charleston, Greenville and the coast; call (877) 298-1001 or use the form below.
Yes. The bridge program runs from $150,000 to $5M+, and larger balances are reviewed case by case. In Columbia, those balances usually cover several properties.
Rates start from 7.99%, with pricing on large balances set by the property, leverage, experience and exit.
Yes, expect a full valuation at these balances, with each property in a package valued separately.
As little as 10 days, though a package with many properties often takes longer because of valuations and title work.
A sale can reset each property's value, and rentals are taxed at a 6% assessment ratio. Budget on the investor figure.
A blanket portfolio loan or individual DSCR loans once the properties are leased, or a sale.
Yes, for investment property. A high-value waterfront home may exit into a jumbo DSCR loan if market rent supports it.
No. These are business-purpose loans on investment property only.
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.