El Paso is one of the lower-priced big metros in Texas. A $1 million-plus bridge loan here almost always buys many properties at once: a landlord's portfolio, a row of Northeast fourplexes or several small buildings near UTEP.
In short: LendingStreet offers residential investor bridge loans from $1M to $5M+ in El Paso, within a program range of $150,000 to $5M+. Rates start from 7.99%, closings can happen in as little as 10 days, and loans are short-term and interest-only on 1 to 8 unit properties. Larger balances usually need a full valuation. Most El Paso exits are a blanket DSCR refinance; a jumbo DSCR loan fits the rare high-value single property.
Large balances here usually mean volume. A long-time landlord sells 10 to 20 homes in the Northeast and on the east side. An investor buys a group of fourplexes along a Northeast corridor, or several older brick buildings near UTEP. An estate needs a quick, certain close on a mixed portfolio. In each case, speed and one closing matter more than squeezing out the last dollar of leverage.
High-value single homes exist on the Westside, in the Upper Valley and in Coronado-area neighborhoods, but few rentals there reach seven figures on their own. Being honest about that up front helps: a large El Paso bridge file is a portfolio file, and it is underwritten property by property, then as a whole.
Bridge loans are short-term and interest-only. Rates start from 7.99%, and pricing on large balances is set case by case. A complete file can close in as little as 10 days, though packages with many appraisals usually take longer.
Larger balances usually need a full valuation on each property. In the Northeast and east side, comparable sales are plentiful; in older central neighborhoods, appraisers may need to look harder.
This example is illustrative and not a quote. An investor agrees to buy 14 single-family rentals from a retiring El Paso landlord for $2,660,000. Several homes are vacant or leased well below market. A bridge loan at 75% of price is $1,995,000, with estimated interest-only payments of about $15,794 a month.
Over six months the investor updates the vacant homes and re-leases them. All 14 rent at about $1,650, or $23,100 a month, and the portfolio appraises at $3,000,000.
A blanket DSCR refinance at 65% of value, $1,950,000, plus a small paydown from the investor, retires the bridge. Estimated principal and interest is about $13,302. With taxes of $6,440 a month at the full combined rate and insurance of $1,610, the payment is about $21,352 and the portfolio DSCR is about 1.08x.
| Stage | Amount |
|---|---|
| Portfolio price | $2,660,000 |
| Bridge loan at 75% | $1,995,000 |
| Estimated interest-only payment | $15,794 |
| Value after updates | $3,000,000 |
| Blanket DSCR loan at 65% | $1,950,000 |
| Estimated principal and interest | $13,302 |
| Taxes and insurance | $8,050 |
| Combined rent | $23,100 |
| Portfolio DSCR | About 1.08x |
In the example, property taxes are nearly a third of the refinance payment. That is typical in El Paso, where combined rates are high relative to values and investors get no homestead exemption. The appraisal district may also revalue each home after the sale.
Test your exit with the full combined rate on the purchase price for every property. If the ratio is tight, a spring protest on several homes can help before you refinance.
Older El Paso portfolios often sit on local bank loans or seller-financed notes with balloon dates. When several come due at once and a few properties still need work, a large bridge loan can pay them all off and buy time to finish repairs and raise rents before a long-term refinance. Bring every payoff letter and the current rent roll.
Texas has no transfer tax and no mortgage recording tax, so closing costs on a large package are mostly title, escrow, recording and lender fees, plus an appraisal on each property. Title insurance is priced on a state-set schedule. Start title work on every parcel the day you sign the contract.
Most packages exit into a blanket portfolio loan, which tests the ratio on combined rent and allows partial releases. Some investors sell a few homes to owner-occupant buyers, who are active near Fort Bliss, and refinance the rest. The rare high-value single property can exit into a jumbo DSCR loan. Our bridge-to-DSCR guide covers seasoning and timing.
A 14-home package is really 14 small projects. Group the homes by the work they need, start with the vacant ones that can produce rent soonest and keep a running schedule of what is leased, what is under repair and what is waiting. Summer heat slows exterior work and roofing, so plan those items for spring and fall when you can.
Track costs by property. When you refinance, the appraiser values each home separately, and clean records of what was done help support the new values and rents. If the work turns heavier than expected on a few homes, consider selling those as-is and keeping the rest.
Hail and wind storms affect the region, and insurers look at roof age property by property. On a package, a few old roofs can raise the combined premium. Get quotes early and include roof replacements in the renovation budget where needed. A single blanket policy may be available for the whole portfolio, which can simplify renewals after the refinance.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the property list, price, current rents, repair plans and your intended exit. LendingStreet will size the bridge and test the refinance at the full tax rate. Call (877) 298-1001 or use the form below. See also our Texas large bridge page.
Mostly packages: portfolios of homes, groups of fourplexes and small buildings, and payoffs of maturing portfolio loans.
Rates start from 7.99%, and pricing on large balances is set case by case.
Larger balances usually need a full valuation on each property.
High Texas property taxes take a large share of the payment, so the rent supports a smaller long-term loan.
No. Texas has no transfer tax or mortgage recording tax.
In as little as 10 days with a complete file. Packages with many properties often take longer.
Yes. A bridge loan can pay off local bank loans or seller-financed notes on several properties at once, as long as the exit is clear.
Often yes, through partial releases on the bridge loan. Ask how release prices are set before closing.
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