Sarasota's large bridge loans come from two very different markets. On the keys and the bayfront, single homes routinely trade for $2M to $5M+. On the mainland, builders in North Port, Venice and Parrish sell groups of new homes to investors at a bulk price. Both deals need a lender who can close quickly and plan the exit carefully.
In short: LendingStreet offers residential investor bridge loans in the Sarasota area from $1M to $5M+ on 1-8 unit properties, with rates from 7.99%, interest-only payments and closings in as little as 10 days. Larger balances usually need a full valuation and are reviewed case by case. Common uses include builder packages of new homes, waterfront purchases on Lido Key, Siesta Key, Bird Key and Longboat Key, and storm-damaged properties bought for repair, with exits by sale or into a DSCR, blanket or jumbo DSCR loan.
Large bridge loans in this market usually fall into one of these groups:
When builders have finished inventory, they sometimes sell several homes at once to an investor at a lower price per home than retail buyers pay. These deals usually close quickly and the homes are vacant, so a long-term DSCR loan cannot size on leases that do not exist yet.
A bridge loan closes the purchase, carries the homes interest-only while they lease, and is paid off by a blanket DSCR loan or individual DSCR loans once tenants are in place. Sizing the bridge at a balance the permanent loan can refinance is the key to making the handoff clean.
This example is illustrative and not a quote. An investor buys six new three-bedroom homes from a builder for $2,040,000, or $340,000 each. They appraise at about $370,000 each, $2,220,000 in total. The bridge loan is $1,326,000, 65% of the purchase price.
Estimated monthly interest is about $11,602, or about $46,410 over a 4-month lease-up. Once all six homes lease at about $2,250, rent totals $13,500 a month. A blanket DSCR refinance at 60% of appraised value, $1,332,000, pays off the bridge. Estimated principal and interest is about $9,087; with taxes and assessments of about $2,750 and insurance of about $1,080 a month, the total is about $12,917, for a DSCR of about 1.05x.
| Item | Amount |
|---|---|
| Package price (6 homes) | $2,040,000 |
| Appraised value | $2,220,000 |
| Bridge loan (65% of price) | $1,326,000 |
| Estimated monthly interest | $11,602 |
| Interest over 4 months | $46,410 |
| Rent after lease-up | $13,500 |
| Blanket refinance (60% of value) | $1,332,000 |
| Estimated principal and interest | $9,087 |
| DSCR at refinance | 1.05x |
On the keys, a $3M home might rent for $12,000 to $16,000 a month on an annual lease. Once Florida property taxes on a non-homestead home and wind and flood insurance are added, that rent rarely covers a long-term loan at normal leverage. Large island purchases therefore usually exit by sale, or by a jumbo DSCR loan at noticeably lower leverage.
Seasonal or short-term rental income can help on some programs, but association rules and insurance costs need checking first.
Price the exit conservatively. Some island buyers became more cautious after the 2024 storms as they weighed insurance and flood risk, and a business plan that depends on a quick resale at a record price is risky.
After the 2022 and 2024 hurricanes, many damaged homes on the keys and in Venice and Englewood came to market. A bridge loan can buy one quickly, but the plan must account for the FEMA substantial improvement rule: if repair costs pass about half the structure's value, the home may have to be elevated or rebuilt to current flood standards.
Get the local building department's view on the property's status, an estimate of repair costs and the flood elevation requirements before you commit.
Some investors buy damaged lots or teardown homes intending to build new. That is a construction project rather than a bridge loan, and our construction programs, sized on loan-to-cost with a draw schedule, are the better fit.
Residential investor bridge loans run from $150,000 to $5M+, with larger balances reviewed case by case. Payments are interest-only, terms are short, rates start from 7.99%, and closings can happen in as little as 10 days.
Larger balances usually need a full appraisal. For packages, expect an appraisal on each home. For waterfront properties, appraisers look closely at dock rights, seawall condition, elevation and post-storm repairs, all of which affect value.
Florida's documentary stamp tax on new mortgage notes and intangible tax on new mortgages are both based on the loan amount, so they add up on a large bridge loan and again on the permanent refinance. Build both into your budget. Deed stamps apply on the purchase, and who pays them is negotiated.
Insurance must be in place from the day of closing. On waterfront homes, binding wind and flood coverage can take time, and some carriers will not write new policies once a storm is in the forecast cone, so start early during hurricane season.
Send the addresses, purchase contract, appraisal or value support, insurance quotes, any storm damage history and your exit plan. Call (877) 298-1001 or use the form below and we will tell you quickly whether the deal fits.
Yes. A package of new 1-8 unit homes can be bought with a bridge loan and refinanced into a blanket or individual DSCR loans once leased.
Usually, yes. Larger balances generally need a full valuation, and packages need an appraisal on each home so the loan can be sized on actual values.
Rates start from 7.99%. Terms depend on leverage, experience and the exit plan.
In as little as 10 days when title, valuation, insurance and documents are ready. Builder packages often close on the builder's schedule, so share the contract dates early.
Yes, with a clear repair plan and budget. Check the FEMA substantial improvement rule and local flood elevation requirements first, because they can turn a repair into a rebuild.
Taxes and insurance on high-value coastal homes are high relative to rent, so a long-term loan usually works only at lower leverage.
Yes. Documentary stamp tax on the note and intangible tax on the mortgage apply to new Florida loans, and they apply again when the permanent loan replaces the bridge.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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