In Greater Boston, a triple-decker or a small apartment building often costs more than $1M by itself, and in Worcester or Lowell a few together reach that level. Large bridges here also have to plan around the lead law, Title V septic rules and strict tenant protections.
In short: LendingStreet makes Massachusetts bridge loans from $1M to $5M+ on 1-8 unit investment properties, with rates from 7.99% and closings in as little as 10 days. Larger balances are reviewed case by case and usually need a full valuation. Massachusetts investors use them for triple-deckers, 5-8 unit buildings and Cape Cod homes, then refinance into DSCR or jumbo DSCR loans, often at moderate leverage because prices are high relative to rents.
In Boston, Dorchester, Jamaica Plain, East Boston, Roslindale and Brighton have triple-deckers and small multi-unit buildings that often sell for $1.2M to $2M. Somerville, Cambridge, Medford, Malden and Quincy have similar stock near transit and universities. Brookline and Newton have high-value homes.
Worcester has many triple-deckers at lower prices, and Lowell, Lawrence, Springfield and New Bedford offer multi-family homes that investors buy in groups. On Cape Cod, Nantucket and Martha's Vineyard, high-value homes are bought for summer rentals.
In Worcester, triple-deckers often sell for well under half of what similar buildings cost in Somerville, so a $1M+ bridge there usually covers two or three buildings rather than one.
| Area | Typical large-bridge collateral | Key local item |
|---|---|---|
| Dorchester, JP, East Boston | Triple-deckers and small buildings | Boston rental registration |
| Somerville, Cambridge, Medford | Multi-unit near transit and campuses | Condition and lead compliance |
| Worcester, Lowell, Springfield | Groups of multi-family homes | Older systems and lead law |
| Cape Cod and the Islands | Vacation homes | Title V septic and STR registration |
Common Massachusetts situations at this size:
Bridge loans start at $150,000 and go to $5M+, rates from 7.99%. Above $1M nothing about the product changes, but the review gets deeper. Expect questions about your track record, reserves after closing and how you will repay.
Unlike some smaller bridge files, a large balance usually needs a full valuation. Order it the day terms are accepted and a 10-day close stays possible. The loan is interest-only for a short term while you sell, lease or refinance.
Massachusetts charges a deed excise tax on sales, usually paid by the seller, with a different rate in Barnstable County. Nantucket and Martha's Vineyard add land bank fees, generally paid by buyers. On large island purchases these are significant.
Property tax rates are set by each city and town, and many cities, including Boston, use a residential exemption that only applies to owner-occupants. An investor's bill can be much higher than an owner-occupant seller's. Use the full rate.
Because the residential exemption is set city by city, the gap between owner-occupant and investor bills differs a lot between Boston, Cambridge, Somerville and other cities that use it.
This example is illustrative and not a quote. An investor buys a Dorchester triple-decker for $1,200,000. One unit is vacant and needs deleading and updates, and the other two are leased below market.
The bridge loan is $900,000. Estimated interest-only payments are about $7,875 a month during the 6-month hold. The vacant unit is deleaded, renovated and leased, and the other leases renew at higher rent.
The property then values at $1,300,000. A DSCR refinance at 65% LTV is $845,000, so the investor brings about $55,000 to retire the $900,000 bridge balance. Estimated principal and interest on a 30-year term is about $5,836. Adding taxes of $1,250, insurance of $400, the monthly payment is about $7,486. Rent of $9,300 divided by $7,486 gives a DSCR of about 1.24x.
Taxes reflect the full rate without the owner-occupant exemption. A lead compliance letter for the renovated unit is part of the plan.
The Massachusetts lead law requires owners to delead or bring under control any unit built before 1978 where a child under six lives. Owners are strictly liable, so deleading and letters of compliance are a key part of the budget on older triple-deckers.
Title V requires a septic inspection before most property transfers that use a septic system. If a system fails, it usually must be repaired or replaced, which can be expensive on Cape Cod and in towns without sewer service.
Boston requires rental registration and periodic inspections. Other cities, including Worcester and Somerville, have their own rental rules. Massachusetts has strong tenant protections, so evictions take time; plan your lease-up and refinance timeline with that in mind.
Boston generally limits short-term rentals to owner-occupied properties, so investors buying in the city plan on long-term leases. Massachusetts requires short-term rentals to register with the state and pay room occupancy taxes, and towns on the Cape and Islands may add local rules.
On some programs, the refinance on a Cape or Islands home can use short-term rental income, if local rules allow it.
A bridge buys time. The plan for that time should end in a sale or in a 30-year DSCR or jumbo DSCR loan sized on lease income, with LLC borrowers standard and no tax returns. Minimum DSCR on standard programs is 1.0x and minimum credit is 620.
Know your target refinance amount on day one. If the refinance will not cover the bridge payoff, plan the cash you will bring or the property you will sell.
Close speed depends on what we get on the first day. For a $1M+ request, send:
It applies to pre-1978 units where a child under six lives. Owners are strictly liable, so many investors delead during the bridge.
A state rule requiring septic inspection before most transfers. Failed systems usually must be fixed.
Generally not as an investor. Boston limits short-term rentals to owner-occupied properties.
High prices relative to rents mean a lower LTV is often needed to reach 1.0x DSCR.
Usually, yes. Some smaller bridge programs can skip it, but larger balances usually need a full valuation. Ordering it early keeps the timeline short.
As little as 10 days. The valuation and title search are what usually decide whether you hit that.
The program runs from $150,000 to $5M+, and larger balances are reviewed case by case.
Yes. We offer DSCR and jumbo DSCR loans as the takeout, qualifying on the property's rent with LLC borrowers standard.
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