In the Salt Lake Valley, $1 million no longer buys much in Federal Heights or Holladay, but it does buy a package of west-side rentals or a small Central City building. Large bridge loans here cover both, and the strongest deals have a clear refinance waiting at the end.
In short: LendingStreet makes residential investor bridge loans from $1M to $5M+ in the Salt Lake City area on 1 to 8 unit properties and packages of rentals. Bridge rates start from 7.99%, loans are short-term and interest-only, and closings can happen in as little as 10 days. Larger balances usually need a full valuation, and the exit is a sale or a refinance into a DSCR, blanket or jumbo DSCR loan.
On the east bench, homes in Federal Heights, the upper Avenues, Holladay, Cottonwood Heights and Olympus Cove often trade above $1M, and investors buy them as high-end rentals or to renovate and resell. In the urban core, 5-8 unit buildings and groups of fourplexes in Central City and Liberty Wells can exceed $1M.
On the west side and in the suburbs, the big balances come from packages: a landlord selling six or eight homes in West Valley City, Kearns and Magna at once, or a builder with a group of finished townhomes that need to be paid off and leased.
Most requests fall into a few patterns, each with a defined exit.
This example is illustrative and not a quote. An investor buys six rentals in West Valley City and Kearns from a retiring landlord for $2,370,000, about $395,000 each, with a 30-day closing deadline. The investor budgets $60,000 for turnover work. The bridge loan is sized at 65% of total cost, or $1,580,000, with estimated interest-only payments of about $13,167 a month.
After the work, the homes are expected to appraise at $420,000 each and rent for $2,300. A blanket refinance at 65% of value would be about $1,638,000, repaying the bridge. With residential-exemption taxes of $1,050 and insurance of $630 a month, the payment is about $12,854 against rent of $13,800, a DSCR of about 1.07x.
The lower leverage is deliberate. Salt Lake rents are high in dollars but modest relative to prices, so a bridge loan sized at 75% of cost would leave a refinance that cannot clear 1.0x. Sizing the bridge to the refinance the rents will actually support keeps the exit realistic.
| Item | Amount |
|---|---|
| Package purchase price, 6 homes | $2,370,000 |
| Turnover budget | $60,000 |
| Bridge loan at 65% of cost | $1,580,000 |
| Estimated monthly interest-only payment | $13,167 |
| Value after work | $2,520,000 |
| Blanket refinance at 65% | $1,638,000 |
| Monthly rent | $13,800 |
| Refinance payment with taxes and insurance | $12,854 |
| DSCR after refinance | About 1.07x |
Larger balances usually need a full valuation. Because Utah does not record sale prices publicly, appraisers rely on MLS and other private data. That works well for tract homes with many recent sales, but east-bench luxury homes and older multi-unit buildings can have few direct comparables.
Help the review by providing a property list with addresses, unit counts, rents, lease dates and renovation plans. For a single high-value home, provide any recent comparable sales you know about.
On a package, loan sizing looks at both the total cost and the value of each home. A property in rough condition or with an unpermitted basement unit can lower the amount the loan covers on that address, even if the rest of the package is clean.
Bridge loans can close in as little as 10 days with a complete file. Utah title companies handle multi-property closings regularly, but each parcel needs its own title commitment, and the seller's entities need to be in order.
Speed often decides who wins a package. Sellers who have watched buyers fail to line up financing will often take a lower price from a buyer who can close on time.
Payoffs have their own urgency. When a construction loan or balloon note matures, the borrower may face default fees or a forced sale if a replacement is not ready. A bridge loan can take out the maturing debt and give the owner time to lease up and refinance on long-term terms.
Packages usually refinance into a blanket portfolio loan, which keeps all properties under one payment. Individual buildings can move into separate DSCR loans. East-bench homes that will be held as rentals can refinance into jumbo DSCR loans, though luxury rents often support lower leverage than tract homes do.
For renovate-and-resell projects, the exit is the sale. Price the resale on recent MLS comparables, not list prices, and plan for longer marketing times in winter.
Utah's residential exemption cuts taxes on rentals occupied as tenants' primary residences, but vacant properties and properties being renovated may be taxed on full value until they are occupied. Budget for that during the hold.
Insurance, utilities on vacant units, snow removal and interest also add up. Utah has no real estate transfer tax, which helps closing costs, but title and recording fees still apply.
If the plan involves renovation, factor in contractor availability. The valley has had steady construction demand, and skilled trades can book out weeks ahead. Line up bids before closing so the hold, and the interest, stay on schedule.
If a seller has given you a short window on a valley package, reach out as soon as you have the property list, so the valuation and title work can start right away.
Send the property list, purchase price, work budget, rents and planned exit. The team will size the bridge and show how the refinance or sale repays it. Use the form below or call (877) 298-1001.
Yes. Large bridge loans run from $1M to $5M+, reviewed case by case.
Bridge rates start from 7.99%. Pricing depends on leverage, property, experience and exit.
Larger balances usually need a full valuation of the property or each property in a package.
In as little as 10 days with a complete file and clean title on every parcel.
Yes, as a non-owner-occupied investment property. The exit is usually a jumbo DSCR refinance or a sale.
Utah has no real estate transfer tax, though title, recording and other closing costs apply.
Usually a blanket portfolio DSCR refinance once the homes are leased and stable.
This program covers 1 to 8 units. Larger buildings are covered on our multifamily page.
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