In a market where many rental houses sell for well under $250,000, a $1M+ bridge loan in Lansing almost never means one property. It means ten or fifteen homes at once, a set of small buildings, or the payoff of a maturing loan on a portfolio that needs time to stabilize.
In short: LendingStreet provides residential investor bridge loans from $1M to $5M+ in Lansing, East Lansing and the surrounding townships, within a bridge program that runs from $150,000 to $5M+ with rates from 7.99% and closings in as little as 10 days. Loans are short-term and interest-only, larger balances usually need a full valuation, and the usual exit is a blanket DSCR or DSCR refinance, or a sale.
Being direct about the market helps: Lansing has few single homes priced above $1M, and those are mostly in Okemos, East Lansing's established neighborhoods and on larger lots in the townships. Large bridge requests here usually involve packages of rentals, student housing portfolios near Michigan State, a retiring landlord's holdings, or several small apartment buildings.
| Deal type | Typical size | Likely exit |
|---|---|---|
| Package of 10-15 single-family rentals | $1.2M to $2.5M | Blanket DSCR after repairs and leasing |
| Student rental portfolio near MSU | $1M to $3M | Blanket DSCR, with licensing in place |
| Several 5-8 unit buildings | $1M to $2.5M | 5-8 unit DSCR loans or a blanket loan |
| High-value single home in Okemos or East Lansing | $1M to $1.5M | Sale, or jumbo DSCR if rent supports it |
Large Lansing packages often come with below-market rents, deferred maintenance and mixed lease terms. A permanent loan sized on today's rent would be small. A bridge loan, with rates from 7.99% and interest-only payments, buys the package, carries it while you repair and re-lease, and then hands off to a permanent loan sized on the higher rent and value.
Bridge money also helps when timing matters. Student portfolios trade on the academic calendar, and a buyer who can close before the fall lease cycle has an advantage. Landlords selling after decades in the business also tend to favor buyers who can take the whole package on one date rather than piecing it out to several buyers.
This example is illustrative and not a quote. An investor buys twelve single-family rentals in Lansing and Holt from one seller for $1,860,000. A bridge loan at 70% of price is $1,302,000, with estimated interest-only payments of about $11,392 a month during repairs and re-leasing.
After repairs, rents average $1,525, or $18,300 a month, and the homes value at $1,950,000. A blanket DSCR refinance at 70% of value is $1,365,000, enough to repay the bridge. Estimated principal and interest is about $9,544; with taxes of $4,560 after uncapping and insurance of $1,320, the payment is about $15,424 and portfolio DSCR is about 1.19x.
| Item | Bridge stage | Blanket DSCR exit |
|---|---|---|
| Loan amount | $1,302,000 | $1,365,000 |
| Monthly debt payment | $11,392 interest-only | $9,544 principal and interest |
| Taxes and insurance | Paid from reserves | $5,880 |
| Monthly rent | Re-leasing period | $18,300 |
| DSCR | Not tested | About 1.19x |
When you buy a package, every property's taxable value uncaps the following year, and none of them get the principal residence exemption. If the seller held the homes for a long time, the combined tax bill can rise sharply. The exit refinance will use the new taxes, so build them into the exit math from the start.
Ask each city or township assessor for an estimate, and remember that City of Lansing millage is typically higher than in Delhi, Delta or Meridian townships.
Larger balances usually need a full valuation, and a package may need values on each property. We also review your experience with similar projects, liquidity, the repair budget and the leasing plan.
Student rentals can be strong performers, but they depend on licensing and occupancy limits. In East Lansing, the number of unrelated tenants a home may legally house decides its rent, and the license has to be current. Confirm license status for every property in the package, and expect the exit lender to underwrite to the legal occupancy, not the seller's current tenant count.
If a short-term loan on a Lansing portfolio or a recently renovated set of homes is coming due before the properties are ready for permanent financing, a bridge can pay it off and buy time. Send the payoff, maturity date, status of each property and remaining work. See /bridge-to-dscr-loan-guide.html for how the handoff to a DSCR loan works.
Most Lansing packages exit into a blanket DSCR loan, which combines lower-priced homes into one loan above the $150,000 minimum. Five to eight unit buildings may exit into 5-8 unit DSCR loans, and a single high-value home may exit into a jumbo DSCR loan or a sale. If you plan to sell some properties, tell us up front so the bridge release terms fit.
Winter matters for timing. Exterior work, roofs and some appraisals are harder from December through March, so plan the schedule so the refinance does not depend on work that weather can delay.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the property list, price, repair budget, timeline and exit plan through the form below, or call (877) 298-1001. We will size the bridge, test the exit with post-sale taxes and show options next to our Michigan large bridge programs.
Our residential investor bridge program runs from $150,000 to $5M+, and larger balances are reviewed case by case based on the properties, your experience and the exit.
Rates start from 7.99%. Pricing on large balances depends on leverage, your experience with similar projects, property condition and the strength of the exit plan. Larger packages are priced case by case.
Larger balances usually need a full valuation, and packages may need a value on each property.
Yes, if each property is 1 to 8 units and licensing is in order. The exit lender will underwrite to legal occupancy under the local rental license, not the number of tenants the seller currently has, so confirm license limits before you price the deal.
In as little as 10 days once the file is complete, though packages with many properties often take longer because each one needs title, insurance and valuation review. Starting those early keeps the close on schedule.
Usually. Michigan uncaps taxable value after a sale, and rentals do not get the principal residence exemption. Budget the new bills in your exit.
Yes. Bridge loans are short-term and interest-only. Plan reserves for taxes and insurance during the repair period.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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