Ohio is a portfolio state. Investors buy single-family homes and doubles ten or fifteen at a time in Columbus, Cleveland, Cincinnati and Dayton, and a $1M+ bridge loan is the usual tool for closing those packages fast.
In short: LendingStreet offers residential investor bridge loans from $1M to $5M+ on 1-8 unit Ohio property, with rates from 7.99%, interest-only payments and closings in as little as 10 days on a complete file. In Ohio, large balances usually finance packages of homes and doubles or several small multifamily buildings. Larger balances usually need a full valuation, and exits are a sale or a DSCR or blanket refinance.
Portfolio trades are routine in Ohio, and many sellers want one buyer and one closing. A bridge loan funds the whole package now, then the investor stabilizes and refinances.
Columbus leads on growth, with rentals in the Hilltop, Linden, Whitehall, Reynoldsburg and Grove City and newer homes near the New Albany and Licking County employment corridor. Cleveland and its inner suburbs (Lakewood, Cleveland Heights, Euclid, Parma) have older doubles and up-and-down duplexes at low prices.
Cincinnati adds two- to four-family buildings in Price Hill, Northside and Walnut Hills, plus Northern Kentucky's spillover. Dayton, Akron and Toledo offer some of the lowest entry prices in the Midwest, so a $1M+ bridge there can cover 10 or more homes. Youngstown, Canton and Springfield are smaller markets where large loans are almost always multi-property packages.
This example is illustrative and not a quote. An investor buys twelve single-family rentals in the Hilltop, Whitehall and Reynoldsburg for $2,100,000. Four are vacant and need turnover work, and the rest have leases below market.
Assume a bridge loan of $1,575,000 (75% of the price). Because bridge payments are interest-only, the estimated monthly payment is about $13,125, or about $105,000 across the 8 months the investor expects to hold the loan before refinancing.
At refinance the properties appraise at $2,280,000. A DSCR loan at 75% LTV is $1,710,000, with estimated principal and interest of about $11,665 a month. Add $3,420 in taxes, $1,100 in insurance and $0 in other housing costs, and the total payment is about $16,185. Against $18,300 of monthly rent, DSCR is about 1.13x.
Twelve homes at market rent clear 1.0x even with Franklin County taxes at full value. The $1,710,000 refinance repays the $1,575,000 bridge with about $135,000 left, and a blanket structure keeps all twelve on one payment.
| Item | Amount |
|---|---|
| Purchase price | $2,100,000 |
| Bridge loan (75% of price) | $1,575,000 |
| Estimated monthly interest-only payment | $13,125 |
| Interest carry over 8 months | $105,000 |
| Value at refinance | $2,280,000 |
| Blanket or DSCR refinance at 75% LTV | $1,710,000 |
| Estimated principal and interest | $11,665 |
| Taxes, insurance and other monthly costs | $4,520 |
| Total monthly payment | $16,185 |
| Monthly rent | $18,300 |
| DSCR | 1.13x |
Short term, interest-only, rates from 7.99%, and closings in as little as 10 days: those basics hold at every size in our $150,000 to $5M+ bridge program. Above roughly $1M, two things get more attention in Ohio: the valuation, which is usually a full appraisal on larger balances, and the exit, which has to be specific.
Larger balances are reviewed case by case, so the more complete the file, the faster the answer.
Ohio's low prices and solid rents mean many packages clear a 1.0x DSCR at standard leverage once vacant units are leased. The tax line, especially in Cuyahoga and other high-rate counties, is what usually tightens the ratio.
Five or more properties can refinance into a blanket portfolio loan, with one payment and release provisions for selling individual homes later. Investors who prefer flexibility can refinance into separate DSCR loans instead.
Ohio charges a conveyance fee on deeds, customarily paid by the seller, made up of a state portion plus a county portion that varies by county, up to about $4 per $1,000 of value in total. On a $2M package, that is a few thousand dollars at most.
Property taxes matter more. Ohio counties reappraise every six years, with an update in the third year, and recent cycles brought large value increases in many counties. Rentals also do not get the owner-occupancy reduction that homeowners receive, so the bill an investor pays can exceed the seller's.
Cleveland requires a lead-safe certificate for most rental homes built before 1978, along with rental registration, and Toledo has its own lead-safe rental ordinance. Other cities, including Cincinnati and Dayton, have registration or inspection programs for some rentals. Certification work is a common reason to bridge before a long-term loan.
Much of Ohio's rental stock is 80 to 120 years old, so expect sewer lines, basements, roofs and electrical updates in the repair budget.
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 Ohio 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.
The seller customarily pays it. The total varies by county, up to about $4 per $1,000 of value. Confirm with your title company.
Rentals do not receive the owner-occupancy reduction that homeowners get, and recent reappraisals raised values. Budget on current values without the reduction.
Most rentals built before 1978 do, along with rental registration. Plan the work and the timeline into your bridge.
Usually, yes. Some smaller bridge programs skip the appraisal, but larger balances generally require a full valuation of each property.
No. Our investor loans are business-purpose loans on non-owner-occupied property only. The properties must be held as investments.
Rates start from 7.99%. Larger balances are priced case by case, with leverage, property type and the strength of the exit all considered.
On some programs, yes. Each home needs its own valuation and title work, so larger packages take more time.
Often. Five or more rentals can go on one blanket loan with one payment and release provisions when you sell a home.
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