On the Seacoast, $1M is not a luxury number. A downtown Portsmouth multi-unit building, a waterfront home in New Castle or Rye, or a package of Dover two-families can all clear it. When those deals need to close fast, a bridge loan fills the gap.
In short: LendingStreet provides residential investor bridge loans from $1M to $5M+ in Portsmouth and the New Hampshire Seacoast, with rates from 7.99% and closings in as little as 10 days. Loans are short-term and interest-only, on 1 to 8 unit investment properties, and larger balances usually need a full valuation. The exit is a sale or a refinance into a DSCR or jumbo DSCR loan.
Typical large Seacoast bridge files include small mixed-residential buildings near Market Square and the South End, 5 to 8 unit buildings on the Portsmouth side streets, high-value homes in New Castle, Rye and along the water that will be leased long-term, and packages of several homes or two-families in Dover, Exeter or Rochester bought from one seller.
Buildings with 9 or more units are commercial, and we cover those separately on our commercial page.
| Deal type | Example area | Common exit |
|---|---|---|
| 5-8 unit building | Portsmouth South End, West End | DSCR refinance once stabilized |
| High-value single-family | New Castle, Rye, Portsmouth waterfront | Jumbo DSCR refinance or sale |
| Package of homes | Dover, Rochester, Exeter | Blanket DSCR loan or sales |
| Maturing loan payoff | Anywhere on the Seacoast | Refinance or sale |
Speed is the first reason. Well-located Seacoast properties draw multiple offers, and a seller often favors a buyer who can close in two weeks. A bridge loan can close in as little as 10 days when title and valuation move quickly.
The second reason is condition. A building with vacant units, deferred maintenance or below-market leases may not qualify for a long-term DSCR loan yet. Bridge financing covers the period while you lease up or renovate.
The third is timing: paying off a maturing loan or a partner buyout before a permanent refinance is ready. Investors who bought Seacoast properties with short-term financing a few years ago sometimes face a maturity date before the property has stabilized, and a new bridge loan can buy time to finish leasing.
Larger balances usually need a full valuation, and New Hampshire's waterfront and historic properties can be hard to compare. A New Castle home or a Portsmouth building in the historic district may have few recent sales that match. Expect the reviewer to look closely at comparable sales, the property's condition and your plan.
If the property has signed leases, an operating history or a recent appraisal from another lender, provide it early. Experience matters more as the balance grows. A track record with similar Seacoast properties, reserves and a clear exit help the review.
This example is illustrative and not a quote. An investor buys a six-unit building near downtown Portsmouth for $2,400,000. Two units are vacant and the others are below market. A bridge loan at 70% of purchase price is $1,680,000, and estimated interest-only payments are about $14,700 a month during the bridge term.
After leasing all six units at market, rent totals $16,200 a month. A DSCR refinance at the same loan amount would carry estimated principal and interest of about $12,036, taxes of about $2,300 and insurance of about $650, for a total payment of about $14,986. At that stage DSCR is about 1.08x, which clears the 1.0x standard minimum.
| Stage | Monthly figure |
|---|---|
| Bridge loan amount | $1,680,000 |
| Estimated interest-only payment | $14,700 |
| Stabilized rent | $16,200 |
| Exit principal and interest | $12,036 |
| Exit taxes and insurance | $2,950 |
| Exit DSCR | About 1.08x |
New Hampshire's real estate transfer tax is charged on the sale price and is usually split between buyer and seller, so on a $2M+ purchase the buyer's share is a real cash item. There is no separate mortgage recording tax, but recording fees and title insurance apply. Confirm the figures with your title company.
Property taxes in Portsmouth and the surrounding towns are billed by the municipality. Build the full tax figure into your exit ratio, since a recent sale price can lead to a higher assessment at the next revaluation.
Most large Seacoast bridge loans end in one of three ways. A stabilized 1 to 8 unit property refinances into a DSCR loan. A single high-value home refinances into a jumbo DSCR loan, which covers about $1.5M to $5M+ with max LTV that varies by program. A package of homes can move to a blanket portfolio loan, or the investor sells some properties to pay down the bridge.
Plan the exit before you close. Our bridge to DSCR guide explains the timing and what the permanent lender will want to see.
Waterfront properties in New Castle, Rye and along the Piscataqua face flood zone and insurance questions, and exterior work in Portsmouth's historic district needs approval from the Historic District Commission. Both can slow a renovation, so build extra time into the bridge term.
Large Seacoast bridge loans are short-term and interest-only, so the plan has to fit inside the term with room to spare. Leasing vacant units in Portsmouth usually moves quickly in spring and summer and more slowly in winter, and contractors on the Seacoast are often booked months out. Historic district approvals and condo or permit reviews can add weeks.
Lenders at this size usually want to see reserves that cover several months of interest payments, plus any renovation budget the loan does not fund. If the plan depends on selling part of a package, show which properties you expect to sell first and at what prices, based on recent nearby sales rather than list prices.
Building in a cushion protects you if the exit takes longer than expected. Extensions may be possible on some programs, but they are not automatic and usually carry a cost.
Send the address, price, current rent roll, any planned work and your exit plan. The team will size the loan, confirm what valuation is needed and come back with terms. Call (877) 298-1001 or use the form below.
Our residential bridge program runs from $150,000 to $5M+, and $1M+ balances are reviewed case by case.
Rates start from 7.99%. Pricing depends on leverage, property, experience and the exit.
In as little as 10 days when title, valuation and documents are ready. Larger balances can take longer.
Larger balances usually need a full valuation, especially for waterfront or historic properties with few comparable sales.
Yes. Packages of 1 to 8 unit properties can be financed, with an exit to a blanket loan, DSCR loans or sales.
Yes, if the property and exit plan support it.
Often a jumbo DSCR refinance once the home is leased, or a sale.
Those are commercial. See our commercial page for those properties.
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