With city rowhomes often trading under $200,000, a $1M-plus bridge loan in Harrisburg usually finances a package: a dozen rowhomes from a long-time landlord, a group of converted buildings in Midtown and Uptown, or several West Shore twins. Larger single homes in Hershey and Camp Hill can get there too.
In short: LendingStreet makes residential investor bridge loans from $1M to $5M+ on Harrisburg-area 1 to 8 unit properties and packages, with rates from 7.99% and closings in as little as 10 days. The loans are short-term and interest-only and are usually repaid by a sale or a refinance into a blanket DSCR or jumbo DSCR loan. Larger balances usually need a full valuation of each property.
Packages dominate. Long-time owners on Allison Hill, in Uptown and in Steelton often sell ten or more rowhomes together, sometimes with tenants paying below-market rents and units that need updating. Investors also buy groups of converted multi-unit rowhouses in Midtown, or twins and duplexes on the West Shore, from estates and retiring landlords.
Single properties over $1M are less common but appear in Hershey, Camp Hill and parts of Lower Paxton and Susquehanna townships, usually larger homes that an investor renovates for sale or for a high-end rental.
Packages also come from investors who assembled properties over many years with short-term local bank loans and now face maturities. A bridge loan can pay off those notes at once and give the owner time to stabilize before a long-term refinance, rather than refinancing property by property.
Permanent DSCR loans want stabilized rent and rentable condition. A package of older rowhomes rarely starts there: some units fail rental inspection, some are vacant, and some leases are far below market. A bridge loan buys the whole package on the seller's timeline and gives you time to fix, re-register and re-lease each property before refinancing.
This example is illustrative and not a quote. An investor buys fourteen rowhomes in Harrisburg and Steelton for $1,820,000 and budgets $280,000 for repairs needed to pass inspection and raise rents. The bridge loan is $1,575,000, 75% of total cost, with estimated interest-only payments of about $13,781 a month.
After the work, the rowhomes appraise at $2,520,000 and rent for $1,400 each, $19,600 a month. A blanket DSCR refinance at 70% of value is $1,764,000, enough to pay off the bridge loan. Estimated principal and interest is about $12,034; with taxes of $4,200 and insurance of $1,540, the payment is about $17,774 and the DSCR is about 1.10x.
| Item | Bridge phase | Blanket DSCR exit |
|---|---|---|
| Loan amount | $1,575,000 | $1,764,000 |
| Basis | 75% of $2,100,000 cost | 70% of $2,520,000 value |
| Monthly debt payment | About $13,781 interest-only | About $12,034 principal and interest |
| Taxes and insurance | Paid by investor | $5,740 |
| Monthly rent | Re-leasing | $19,600 |
| DSCR | Not used | 1.10x |
Harrisburg's rental registration and inspection program means every unit in a city package must be registered and able to pass inspection before it can be rented legally. Build the repair list around inspection items first: smoke and carbon monoxide detectors, egress, handrails, electrical and heating. Pennsylvania landlord-tenant law governs how you raise rents or end leases for tenants in place, so plan re-leasing around existing lease terms.
Budget enough time. Scheduling inspections across a dozen or more units, ordering materials and finding contractors for older brick buildings can stretch a renovation. A realistic schedule keeps the bridge term long enough without paying interest on time you do not need.
Larger balances usually need a full valuation of each property. For rowhome packages, appraisers rely on sales on the same and nearby blocks, which can vary sharply from street to street in Harrisburg. Share your renovation scope by address and give access to every unit.
Title work is needed on each parcel, and older city properties can carry unpaid municipal liens, water and sewer charges or code violations. Order title and municipal lien letters early.
Some packages also include properties held in different names or entities. Sorting out who owns what, and making sure every deed can be conveyed cleanly at one closing, is easier to do before the contract is signed than after.
Pennsylvania's realty transfer tax includes a 1% state share plus a local share that varies by municipality and school district, and it is commonly split between buyer and seller. On a $1.8M package, that is a meaningful cost, so include it in your budget along with title insurance, recording fees and prorated taxes. Ask your attorney how the price will be allocated across parcels.
For a single home over $1M, the bridge loan typically funds a purchase and renovation aimed at a sale or a high-end rental. Larger homes in Hershey and Camp Hill can rent to executives and physicians, but the combined county, township and school taxes on a high-value home are significant, so test any refinance with the real tax bill. Many of these projects exit by sale.
If you do plan to rent a high-value home, a jumbo DSCR program may fit, but the rent has to cover the full payment at the program's minimum. Run that test before you buy, using the actual tax bill for the parcel rather than an estimate.
Most rowhome packages refinance into a blanket DSCR loan once units are registered, repaired and leased, keeping one payment with release provisions. Some investors sell a few renovated rowhomes to pay down the bridge loan and refinance the rest. Send the property list, price, renovation budget and exit plan through the form below, or call (877) 298-1001.
Include current rents and lease dates for occupied units and any inspection reports you have. We will size the bridge loan and show whether the refinance will cover it.
Yes. Large bridge loans run from $1M to $5M+, and in Harrisburg they usually cover packages of rowhomes or small buildings.
Rates start from 7.99%. Larger balances are priced case by case.
In as little as 10 days on some files, though valuations and municipal lien letters on many parcels can take longer.
Larger balances usually need a full valuation of each property.
For the permanent loan, properties should be legally rentable, which in Harrisburg means registered and able to pass inspection.
It is commonly split between buyer and seller, with a 1% state share plus a local share.
A blanket DSCR refinance once the properties are leased, a sale, or a jumbo DSCR loan for a large single property.
Yes. Bridge loans are short-term and interest-only.
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