In Philadelphia, $1M buys a handful of rowhomes. In Pittsburgh or Scranton, it can buy a dozen. Either way, Pennsylvania's transfer tax and city rental rules shape the deal before the first payment is due.
In short: LendingStreet offers residential investor bridge loans from $1M to $5M+ on 1-8 unit Pennsylvania property, with rates from 7.99%, interest-only payments and closings in as little as 10 days on a complete file. Common uses are Philadelphia rowhome packages, Pittsburgh rentals and small multifamily in Allentown, Lancaster and Harrisburg. Larger balances usually need a full valuation, and exits are a sale or a DSCR or blanket refinance.
Philadelphia is the busiest: rowhomes and small multifamily in Kensington, Port Richmond, Fishtown, West Philadelphia, Germantown, Grays Ferry and South Philadelphia. Pittsburgh follows, with rentals in Lawrenceville, Bloomfield, Brookline, Carrick and the South Hills, plus student housing near the universities in Oakland.
Allentown, Bethlehem, Reading, Lancaster and Harrisburg have older twins and converted multifamily at lower prices, while Scranton, Wilkes-Barre and State College add their own rental demand. Outside Philadelphia, a large bridge usually means several buildings.
A large bridge loan is a short-term, interest-only loan used to buy or recapitalize investment property fast, then exit through a sale or a long-term refinance. Our bridge program spans $150,000 to $5M+, with rates from 7.99% and closings in as little as 10 days on a complete file.
At $1M and above in Pennsylvania, each request is reviewed on its own merits, and larger balances usually require a full valuation of every property securing the loan.
| Feature | Large residential bridge |
|---|---|
| Loan size | $1M to $5M+ (program from $150,000) |
| Rates | From 7.99% |
| Payments | Interest-only |
| Speed | As little as 10 days on a complete file |
| Valuation | Full valuation usually required on larger balances |
| Property | 1-8 unit non-owner-occupied investment property |
| Exit | Sale, DSCR or jumbo DSCR refinance |
Philadelphia sheriff sales, estates and investor portfolio sales all reward a buyer who can close quickly. A bridge loan funds the package and the repairs, then the investor licenses and leases the units before refinancing.
This example is illustrative and not a quote. An investor buys six rowhomes in Port Richmond and a triplex in Germantown for $1,950,000. Transfer tax at Philadelphia's combined level is a major closing cost, and three units need renovation, rental licenses and lead certification.
The bridge loan is $1,365,000, sized at 70% of the purchase price for this example, and the estimated interest-only payment is about $11,375 a month. Over a 9-month hold that is roughly $102,375 of interest carry, which belongs in the budget from day one.
At refinance the properties appraise at $2,100,000. A DSCR loan at 70% LTV is $1,470,000, with estimated principal and interest of about $10,028 a month. Add $2,450 in taxes, $900 in insurance and $0 in other housing costs, and the total payment is about $13,378. Against $14,850 of monthly rent, DSCR is about 1.11x.
With nine units licensed and leased, the package clears 1.0x at 70% LTV. The $1,470,000 refinance repays the $1,365,000 bridge with about $105,000 remaining toward the renovation.
| Item | Amount |
|---|---|
| Purchase price | $1,950,000 |
| Bridge loan (70% of price) | $1,365,000 |
| Estimated monthly interest-only payment | $11,375 |
| Interest carry over 9 months | $102,375 |
| Value at refinance | $2,100,000 |
| Blanket or DSCR refinance at 70% LTV | $1,470,000 |
| Estimated principal and interest | $10,028 |
| Taxes, insurance and other monthly costs | $3,350 |
| Total monthly payment | $13,378 |
| Monthly rent | $14,850 |
| DSCR | 1.11x |
Pennsylvania charges a 1% state realty transfer tax, and most municipalities and school districts add about 1% more, for a typical total near 2%, customarily split between buyer and seller. Philadelphia and Pittsburgh are much higher, at roughly 4.5% to 5% combined. On a $2M Philadelphia package, the buyer's half alone can approach $46,000.
Assessments also differ by county. Philadelphia reassesses regularly, while Allegheny County has gone many years without a countywide reassessment, so assessed values there vary widely from market value. Check each parcel's assessment and the likelihood of an appeal.
Philadelphia rowhomes and Pittsburgh houses often clear a 1.0x DSCR on long-term leases once renovated, because prices are moderate relative to rents. The city's wage tax does not enter the DSCR math, but the property tax line and insurance on older brick homes do.
Five or more rentals can refinance into a blanket portfolio loan. Individual DSCR loans make more sense if you plan to sell some homes after the hold.
Philadelphia requires a rental license for each unit, and landlords of pre-1978 rentals must provide a lead-safe or lead-free certification to tenants. Many other Pennsylvania cities, including Pittsburgh, Allentown and Lancaster, have rental registration or inspection programs. Budget time for these before tenants move in.
Pennsylvania's housing stock is among the oldest in the country. Expect party-wall, roof, masonry and sewer lateral issues in rowhomes, and confirm the legal unit count on converted buildings.
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 Pennsylvania 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 combined state and city rate is roughly 4.5% or more, customarily split between buyer and seller. Get a current figure from your title company.
Yes. Each rental unit needs a license, and pre-1978 rentals require lead-safe or lead-free certification. Plan both into your timeline.
The county has gone many years without a countywide reassessment, so assessed values can differ from market value. Check each parcel and watch for appeals.
In as little as 10 days when title, valuation and entity documents are ready. Larger balances add review time, so start the valuation as soon as the contract is signed.
Generally yes. Larger balances usually need a full valuation of each property, even though some smaller bridge loans do not.
No. Our investor loans are business-purpose loans on non-owner-occupied property. They are made for investment properties held by investors or their entities.
Bridge financing can work for quick-close purchases, but sheriff sales have strict deposit and payment deadlines. Talk to us before the sale date.
Often. Five or more rentals can refinance into one blanket loan with one payment and release provisions.
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