In Corpus Christi, a large bridge loan usually finances one of three things: a package of rentals or small apartment buildings, a waterfront home on Padre Island or along Ocean Drive, or a refinance of a maturing loan on a group of properties. Each comes with the same coastal questions about insurance and storm risk.
In short: LendingStreet provides large residential investor bridge loans in the Corpus Christi 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; in a moderately priced market like this one, they most often cover several properties.
Corpus Christi prices sit well below Austin, Dallas and Houston, so balances above $1M are usually packages: several fourplexes in Flour Bluff, a group of Southside houses from a retiring landlord, or a mix of duplexes and small 5-8 unit buildings near the colleges. Say so when you apply and list every address.
Single properties above $1M are concentrated along Ocean Drive, in the Lamar Park and Hewit Drive areas, and in waterfront and canal-front homes on Padre Island. Those can be financed, but long-term rents on high-end coastal homes are often low relative to price, so the exit needs careful testing, often with nightly-rental income where zoning allows.
Another source of large deals is the long-time local owner. Corpus Christi has many landlords who built portfolios over decades around the base and the refineries, and when they retire they often prefer one buyer and one closing. A bridge loan lets you meet that timeline, fix deferred items and refinance once the properties are stabilized.
This example is illustrative and not a quote. An investor buys four fourplexes, sixteen units, near the Naval Air Station for $1,900,000. The bridge loan is 75% of the purchase price, $1,425,000, interest-only, with estimated monthly interest of $12,469. Over a 9-month hold, the investor replaces two roofs, updates units as they turn and brings rents to market.
At exit the buildings are valued at $2,150,000 and rent for $18,400 a month. A refinance at 70% of value is $1,505,000, enough to retire the bridge. Estimated principal and interest is $10,523, and with $3,900 in monthly taxes and $2,200 in insurance, including windstorm and flood, the payment is $16,623, a DSCR of about 1.11x.
| Stage | Amount |
|---|---|
| Package purchase price | $1,900,000 |
| Bridge loan (75% of price) | $1,425,000 |
| Estimated monthly interest-only payment | $12,469 |
| Interest over 9 months | $112,219 |
| Value at exit | $2,150,000 |
| Refinance loan (70% of value) | $1,505,000 |
| Monthly rent at exit, 16 units | $18,400 |
| Monthly taxes and insurance at exit | $6,100 |
| Exit DSCR | About 1.11x |
Some smaller bridge programs close without an appraisal, but at these balances expect a full valuation, one per property in a package. Appraisers will look at storm history, roof condition and windstorm certification, and those factors affect both value and insurability.
Ask for windstorm compliance certificates, check every address against the FEMA flood map and get insurance quotes before you remove contingencies. A property that cannot get windstorm coverage at a workable price can stall the exit refinance.
Large balances also bring closer review of the borrower: experience with similar properties, liquidity after closing and how many projects you are carrying. On a sixteen-unit package, a property manager with Flour Bluff experience and a written repair and leasing plan strengthen the file.
Texas has no deed transfer tax, so closing costs are mostly title, survey, recording and lender fees. Property taxes are high and investors do not get homestead exemptions. A package bought below market may see its appraised values rise toward the purchase price, so budget the exit on the full combined rate at your price.
Hotel occupancy tax matters only if part of the package will operate as nightly rentals. If so, register with the city and the state before the first booking, and remember that the exit lender will look at the property's zoning and rental history.
Packages of small buildings usually exit into a blanket portfolio loan or several DSCR loans once units are leased. Buildings of 5-8 units are still residential for our DSCR programs, with max LTV that can be lower. A single high-value island or Ocean Drive home may exit into a jumbo DSCR loan, roughly $1.5M to $5M+, if rent supports it, or into a sale.
Time the hold around hurricane season where you can. A refinance appraisal scheduled for September carries more weather risk than one in spring, and an extension costs money, so ask about extension terms up front.
If you plan to sell part of the package rather than refinance all of it, look at how quickly similar buildings have sold in Flour Bluff and on the Southside. Small multifamily has a reliable local buyer pool, but a release-friendly exit loan can let you sell a building or two over time without refinancing the rest.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the deal summary and we will size the bridge, test the exit with realistic taxes and coastal insurance and outline a timeline. The Texas large bridge page covers Houston, Dallas, Austin and San Antonio; call (877) 298-1001 or use the form below.
Yes. The program runs from $150,000 to $5M+, and balances that large here usually cover several properties.
Rates start from 7.99%, with large-balance pricing set by the properties, leverage, experience and exit.
At these balances, expect a full valuation of each property.
Yes. Lenders require adequate coverage, and the cost matters again at the exit refinance.
As little as 10 days, though packages often take longer for valuations, title and insurance.
Yes, for investment property. Test the exit carefully, because long-term rents on high-end coastal homes can be low relative to price.
A blanket portfolio loan or individual DSCR loans once the units are leased, or a sale.
No. These are business-purpose loans on investment property only.
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