In New Haven, a single rental rarely tops $1M. Bridge loans of that size here usually finance a group of multi-family houses, a small apartment building or a high-value shoreline home.
In short: LendingStreet provides residential investor bridge loans from $1M to $5M+ in the New Haven area, within a program range of $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 are reviewed case by case, and exits are a sale, a DSCR or blanket refinance, or a jumbo DSCR refinance.
Most two- and three-family houses in New Haven, West Haven and Hamden trade well below $1M, so large bridge balances usually come from buying several at once. Estate sales, retiring landlords and investors exiting a portfolio often sell five or ten buildings together and want a buyer who can close fast.
Other large deals include five- to eight-unit buildings in East Rock, Wooster Square and Downtown, higher-end homes in Westville and Prospect Hill, and shoreline houses in Branford, Guilford and Madison, where waterfront properties can be priced well above $1M.
| Deal type | Where | Typical exit |
|---|---|---|
| Package of 5+ multi-family houses | Fair Haven, Edgewood, the Hill, West Haven | Blanket DSCR refinance |
| 5-8 unit building | East Rock, Wooster Square, Downtown | DSCR refinance |
| Shoreline home | Branford, Guilford, Madison | Sale or jumbo DSCR |
| Higher-end single-family | Westville, Prospect Hill | Sale or DSCR refinance |
| Payoff of a maturing note | Anywhere in the county | Refinance after lease-up |
Packages of older buildings rarely arrive ready for a long-term loan. Some units are vacant, some rents are below market, and some buildings need work before they appraise well. A bridge loan closes the purchase quickly, carries the properties while you re-lease and repair, and then a long-term loan replaces it.
Bridge loans can close in as little as 10 days with a complete file, which matters when an estate or a portfolio seller sets a short deadline.
A bridge loan can also pay off a note that is coming due. Some local investors carry short-term or seller-financed loans on groups of buildings, and when those mature before the buildings are fully leased, a new bridge buys time to finish the work and move to a long-term loan on better terms.
This example is illustrative and not a quote. An investor buys 5 three-family houses in Fair Haven and Edgewood from a retiring landlord at $420,000 each, or $2,100,000 in total. The bridge loan at 70% of the price is $1,470,000, with an estimated interest-only payment of about $12,862 a month.
Over the next year the investor fills vacancies and brings rents up to market, about $4,800 per building. The five buildings then appraise at $2,300,000. A blanket DSCR refinance at 65% of value is $1,495,000, with estimated principal and interest of about $10,453, taxes of $4,750 and insurance of $1,500, for a payment of about $16,703.
Rent of $24,000 against that payment gives a portfolio DSCR of about 1.44x, and the refinance pays off the bridge loan.
| Item | Bridge stage | Blanket DSCR exit |
|---|---|---|
| Value basis | $2,100,000 purchase | $2,300,000 appraised |
| Loan amount | $1,470,000 | $1,495,000 |
| Payment type | Interest-only | Principal, interest, taxes and insurance |
| Estimated monthly payment | $12,862 | $16,703 |
| Monthly rent | Re-leasing | $24,000 |
| DSCR | Not used | About 1.44x |
Larger balances usually need a full valuation, and on a package each building is generally valued. Appraisers in New Haven rely on recent sales of similar two- and three-families, which are plentiful, but condition varies a lot, so interior access to every unit helps.
If some units are occupied by tenants paying well below market, the appraisal may reflect that. Bring the rent roll, leases and a plan for each building.
Plan for the refinance appraisal too. The exit loan will be sized on value and rent at that time, so keep records of every new lease and every repair. A clear before-and-after file makes it easier to support the higher value when the long-term loan is underwritten.
Connecticut assesses at 70% of market value and each town sets its mill rate, so taxes are a large share of the long-term payment. Use the actual bills when you plan the refinance.
Raising below-market rents is part of most package plans, but New Haven's fair rent commission can hear tenant complaints about large increases. Plan increases that are reasonable and well documented, and allow enough time in the bridge term to reach your target rents. Natural turnover, renovated vacant units and lease renewals at market are usually a smoother path than across-the-board increases, and they produce the signed leases the refinance appraisal will rely on.
On a shoreline home in Branford, Guilford or Madison, the exit is usually a sale or a jumbo DSCR loan supported by a long-term lease or, where local rules allow, projected short-term revenue. Flood zones and coastal insurance costs can be significant, and they belong in the exit math from the start.
Waterfront comparable sales can be thin in a given season, which can lengthen the valuation. Older shoreline cottages that were built for summer use may also need heating or foundation work before they can rent year-round, which affects both the appraisal and the exit timeline.
A complete package gets a faster answer.
Older buildings in a package often need porch, roof, heating or electrical work before they lease well. Build a realistic repair budget and timeline, and check that each building's rental licenses can be renewed after the sale.
If repairs will take most of the bridge term, consider a lower loan amount or a longer hold plan so the interest-only payment fits your reserves. Contractors in the area can be booked months ahead in busy seasons, so line them up before closing if the plan depends on finishing work quickly.
Our investor loans are business-purpose loans on non-owner-occupied property. Use the form below or call (877) 298-1001 with the property list, price and exit plan. See also our Connecticut large bridge page and jumbo DSCR loans in New Haven.
The program runs from $150,000 to $5M+, with balances above $1M reviewed case by case.
Rates start from 7.99%, and pricing on large balances depends on leverage, the properties and the exit.
Larger balances usually need a full valuation, and each building is generally valued.
Yes. Packages of 1 to 8 unit buildings are a common use, often with a blanket DSCR refinance as the exit.
Bridge loans are short-term and interest-only. Plan your hold around repairs and re-leasing.
Allow time in the bridge term to raise them reasonably, keeping New Haven's fair rent commission in mind.
As little as 10 days with a complete file and clear title.
Not with this program. Nine or more units falls under commercial financing.
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