Southern New Hampshire's older brick multifamily stock and its tight Seacoast market both reward buyers who can close fast. A large bridge loan funds a Manchester or Nashua building package now and leaves room to raise rents and repair units before the long-term loan.
In short: LendingStreet funds residential investor bridge loans from $1M to $5M+ on 1-8 unit New Hampshire property, with rates from 7.99%, interest-only payments and closings in as little as 10 days on a complete file. Typical collateral is Manchester and Nashua 5-8 unit buildings, Seacoast homes and Lakes Region property. Larger balances usually need a full valuation, and exits are a sale or a DSCR refinance.
Small multifamily rarely sits on the market long in southern New Hampshire. Buyers who can close in days rather than weeks have an edge, and bridge financing gives them time to fix and re-lease units the long-term loan would not like.
The program itself is the same one we use for smaller New Hampshire deals: $150,000 to $5M+, rates from 7.99%, interest-only payments and short terms. What changes above $1M is the review. Larger balances are looked at case by case, and they usually need a full valuation rather than a quick desk review.
Speed is still the reason investors use it. When title, valuation and entity documents are ready, closings can happen in as little as 10 days.
Manchester and Nashua hold most of the state's small multifamily: mill-era brick six-units, wood-frame triple-deckers and converted Victorians in Manchester's West Side and North End and in Nashua's Tree Streets and French Hill. Concord, Dover and Rochester add similar stock at lower prices.
Portsmouth, Rye, Hampton and Exeter on the Seacoast have high-value single-family homes and condos, and the Lakes Region (Laconia, Meredith, Wolfeboro) and North Conway in the White Mountains have seasonal homes. On those, $1M+ often buys one property.
New Hampshire's real estate transfer tax is $0.75 per $100 of the price, charged to both the buyer and the seller, for a combined 1.5%. On a $2.5M package the buyer's share alone is about $18,750, so put it in the closing budget early.
With no broad income or sales tax, towns fund themselves through property taxes, and rates vary widely from town to town. State law requires each town to revalue at least every five years, so a building bought just before a revaluation can see a jump. Check the town's revaluation schedule before you underwrite.
This example is illustrative and not a quote. An investor buys two brick six-units and a triplex in Manchester, 15 units in all, for $2,650,000. Several leases are well below market, and two units need full renovation.
Leverage here is assumed at 70% of the purchase price, a $1,855,000 bridge loan. With interest-only payments estimated at about $15,458 a month, the 10-month plan carries about $154,583 in interest.
At refinance the properties appraise at $2,800,000. A DSCR loan at 70% LTV is $1,960,000, with estimated principal and interest of about $13,371 a month. Add $4,200 in taxes, $1,100 in insurance and $0 in other housing costs, and the total payment is about $18,671. Against $24,750 of monthly rent, DSCR is about 1.33x.
Even with a large property tax bill, the 15 units at market rent clear the 1.0x minimum comfortably, and the $1,960,000 refinance retires the $1,855,000 bridge with about $105,000 left for reserves.
| Item | Amount |
|---|---|
| Purchase price | $2,650,000 |
| Bridge loan (70% of price) | $1,855,000 |
| Estimated monthly interest-only payment | $15,458 |
| Interest carry over 10 months | $154,583 |
| Value at refinance | $2,800,000 |
| DSCR refinance at 70% LTV | $1,960,000 |
| Estimated principal and interest | $13,371 |
| Taxes, insurance and other monthly costs | $5,300 |
| Total monthly payment | $18,671 |
| Monthly rent | $24,750 |
| DSCR | 1.33x |
Much of the multifamily stock predates 1978, so lead-based paint rules apply, and many buildings have older heating systems, knob-and-tube wiring or fire-code gaps from past conversions. Budget for life-safety upgrades, and confirm the legal unit count with the city.
In the Lakes Region and White Mountains, towns set their own short-term rental rules, and some regulate them through zoning. Winter heating and snow costs also weigh on the numbers for seasonal property.
Manchester and Nashua rents have climbed with the regional housing shortage, and older buildings bought with leases below market often have room to grow. The DSCR refinance qualifies on combined rent across all units, with a 1.0x standard minimum and leverage on 5-8 unit buildings that can be lower than on smaller rentals.
Seacoast and Lakes Region homes are harder to refinance on long-term rent alone, so investors there often plan a sale, a lower-leverage refinance or a jumbo DSCR loan.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the addresses, price, current rents, any rehab budget and the exit you have in mind, and the financing team will size the bridge against the exit before you commit. Call (877) 298-1001 or use the form below.
Large New Hampshire files move fastest when title, insurance and the valuation are ordered as soon as terms are agreed. Starting those three items early is usually what makes a 10-day close possible on a bigger balance.
Both sides. The tax is $0.75 per $100 of price charged to the buyer and the same to the seller. Confirm the amounts with your title company.
Towns must revalue at least every five years. If yours revalues soon after you buy, the tax bill can rise, which lowers the DSCR at refinance.
Yes. Buildings with up to 8 units fall in the residential program. Larger buildings are commercial loans.
Bridge rates start from 7.99%. Pricing on large balances is set case by case based on leverage, the properties and the exit.
A complete file can close in as little as 10 days. Packages with many properties take longer because each one needs title work and a valuation.
On balances above roughly $1M, expect a full valuation of every property securing the loan. Plan for it in your timeline.
It can, as long as the unit count is legal and the building is insurable. Budget for life-safety and heating work in older stock.
It can be for a quick purchase, but plan the exit carefully. Long-term rents rarely support high leverage on lake homes, and town STR rules vary.
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