In Reno, a $1M-plus bridge loan can mean very different things: a single view home in Caughlin Ranch or Lakeridge, a package of tract homes from an exiting investor in Sparks, or a short-fuse payoff on a loan coming due before a sale closes.
In short: LendingStreet makes residential investor bridge loans in the Reno area from $1M to $5M+ on 1 to 8 unit properties, with rates from 7.99% and closings in as little as 10 days. Larger balances are reviewed case by case and usually need a full valuation. Loans are short-term and interest-only, and the exit is a sale or a refinance into a DSCR or jumbo DSCR loan.
Reno sits between two price worlds. Most of the valley's rentals sell well under $1M, so a large bridge loan here is often a package: several Sparks or North Valleys homes bought together, or a mix of homes and small buildings near downtown. At the top end, view homes in Caughlin Ranch, Lakeridge, Montreux, ArrowCreek and Galena Forest can pass $1M on their own.
Lake Tahoe is a separate tier. Incline Village homes can run well into seven figures, and a bridge loan there is often used to buy fast and refinance once the home is leased or permitted for short-term use by Washoe County.
| Deal type | Typical Reno example | Usual exit |
|---|---|---|
| Package of homes | 4-10 tract homes in Sparks, Spanish Springs, Stead | Blanket or individual DSCR loans |
| High-value single home | Caughlin Ranch, Lakeridge, ArrowCreek, Montreux | Jumbo DSCR or sale |
| Small buildings | Fourplexes and 5-8 unit buildings near downtown and UNR | DSCR loan after lease-up |
| Lake Tahoe purchase | Incline Village home | Jumbo DSCR or sale |
| Maturing loan payoff | Any of the above | Sale or long-term refinance |
Bridge loans run from $150,000 to $5M+, with rates from 7.99%. On $1M+ files, expect more review of the property, the plan and the exit. Leverage depends on the deal, your experience and the exit, and larger balances usually need a full appraisal or other full valuation rather than a quick desktop value.
Terms are short and interest-only, which keeps the monthly carry lower while you renovate, lease or sell. Closings can happen in as little as 10 days once title, insurance and valuation are in.
Experience matters more as the balance grows. A track record of similar Reno purchases, renovations or lease-ups helps, and so does a clear budget for any work.
This example is illustrative and not a quote. An investor buys four single-family homes in Sparks and the North Valleys and an Old Southwest duplex from a retiring landlord for $2,250,000, with about $150,000 of light updates planned. A bridge loan at 70% of the purchase price is $1,575,000, with an estimated interest-only payment of about $13,453 a month during the bridge term.
After updates and new leases, total rent is $14,100 a month and the package appraises at $2,550,000. A refinance at 65% of value, enough to pay off the bridge, is $1,657,500. Estimated principal and interest is about $11,307; with taxes of $1,180 and insurance of $820, the payment is about $13,307, for a DSCR of about 1.06x.
| Stage | Amount |
|---|---|
| Purchase price | $2,250,000 |
| Bridge loan (70% of price) | $1,575,000 |
| Estimated interest-only payment | $13,453 |
| Value after updates | $2,550,000 |
| Refinance loan (65% of value) | $1,657,500 |
| Refinance payment with taxes and insurance | $13,307 |
| Monthly rent after leasing | $14,100 |
| DSCR at refinance | 1.06x |
Investors sometimes come to us with a loan coming due and a sale or refinance that is not ready yet. A large bridge can pay off the maturing loan and give the project room to finish, as long as the value and the exit plan hold up.
This comes up with stalled renovation projects, packages bought with short seller financing and homes waiting on a sale that slipped. Bring the payoff letter, the maturity date, the current rent roll and what has changed since the original loan. Speed depends on how quickly title and valuation can be completed.
Most Reno packages refinance into a blanket portfolio loan or individual DSCR loans once leased. A single high-value home can refinance into a jumbo DSCR loan, which runs from about $1.5M to $5M+ and qualifies on rent; larger balances get more review and max LTV varies by program.
If the plan is to sell, the appraisal and comparable sales matter more than rent. Reno's high-end resale market can move slower in winter, so build in time.
Wildfire exposure on the west and south edges of the valley and around Tahoe can raise insurance costs and limit carriers. Homes near the Truckee River may need flood coverage. Nevada property taxes are moderate, but the abatement cap for rentals is higher than for a primary residence, so post-purchase bills can climb.
Construction and renovation timelines also matter. Contractors in the valley stay busy with new subdivisions and industrial work, and exterior projects slow down in winter. If your bridge plan depends on finishing updates before a lease-up or sale, build a cushion into the term.
A full package shortens the timeline: purchase contract or payoff letter, property list, rent roll, scope and budget for any work, your track record on similar deals and the planned exit. LLC documents and proof of funds for the down payment and reserves round it out.
On packages, include a property-by-property list with addresses, unit counts, current rent, occupancy and any HOA. On a single high-value home, include recent comparable sales and, if you plan to lease it, comparable leases for similar homes in the same part of the valley. Thin comparables are common at the top of the Reno market, and good data helps the valuation.
If the deal has a hard closing date, say so up front. We can tell you early whether the timeline is realistic for the size of the loan.
We finance business-purpose bridge loans on non-owner-occupied 1-8 unit properties across Washoe County. Send the deal through the form below and we will come back with structure options. For 9+ unit buildings, see our commercial page.
Our bridge program runs from $150,000 to $5M+, and larger balances are reviewed case by case.
Rates start from 7.99%. Pricing on larger balances depends on leverage, property type, experience and the exit.
In as little as 10 days once title, insurance and a full valuation are complete. Larger packages can take longer.
Larger balances usually need a full valuation. Plan for an appraisal on each property in a package.
Yes. Packages of 1-8 unit homes are common, and the exit is often a blanket portfolio loan.
Yes, if the value supports it and there is a clear exit by sale or refinance.
Yes, as an investment property. If you plan nightly rentals, confirm Washoe County STR permit rules before relying on that income.
No. These are business-purpose loans on non-owner-occupied investment property.
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