In Seattle, a $1 million bridge loan can be a single house. Large balances here are routine for Eastside homes, view properties, small apartment buildings and finished townhomes that a builder needs to refinance before a construction loan matures.
In short: LendingStreet makes residential investor bridge loans from $1M to $5M+ in the Seattle area on 1-8 unit properties and packages, with rates from 7.99% and closings in as little as 10 days. Loans are short-term and interest-only, and larger balances usually need a full valuation. Common exits are a sale or a refinance into a DSCR or jumbo DSCR loan after the property is leased.
Seattle's prices put many single properties in large-bridge territory. We see requests on homes in Queen Anne, Magnolia, Laurelhurst, Madison Park and Capitol Hill, Eastside rentals in Bellevue, Kirkland, Redmond and Mercer Island, small buildings with five to eight units, and groups of finished townhomes.
| Deal type | Example areas | Typical exit |
|---|---|---|
| High-value single-family rental | Queen Anne, Magnolia, Bellevue, Kirkland | Jumbo DSCR refinance or sale |
| Finished builder townhomes | Ballard, Central District, West Seattle, Shoreline | Sale of units or DSCR refinance |
| 5-8 unit building | Capitol Hill, Fremont, Wallingford | DSCR refinance after lease-up |
| Package of homes | South King, Pierce and Snohomish counties | Blanket DSCR refinance |
Builders who finish townhomes or small rowhouse projects sometimes face a construction loan maturity before all units sell. A bridge loan can pay off the construction lender, giving the builder time to sell units at market prices or lease them and refinance into DSCR loans. This is one of the most common large-balance uses we see in Seattle.
Lenders look at the finished value, the certificate of occupancy, how many units are leased or under contract and the plan for the rest. A clear exit makes approval easier.
This example is illustrative and not a quote. A builder owns four finished townhomes on unit lots in West Seattle, valued at $3,400,000 together, with a $2,300,000 construction loan maturing in 30 days. A bridge loan of $2,380,000 pays it off and covers costs, with estimated interest-only payments near $19,833 a month.
The builder leases all four homes at about $5,100 each, $20,400 combined. A DSCR refinance at 65% LTV is $2,210,000, with estimated principal and interest near $15,453, taxes $2,600 and insurance $560, for a total near $18,613. The DSCR is about 1.10x. Because the refinance is smaller than the bridge, the builder would sell one home or bring cash, or keep the bridge in place until sales close.
| Item | Bridge stage | After DSCR refinance |
|---|---|---|
| Loan amount | $2,380,000 | $2,210,000 |
| Value | $3,400,000 | $3,400,000 |
| Monthly payment | $19,833 interest-only | $18,613 with taxes and insurance |
| Monthly rent | Leasing in progress | $20,400 |
| DSCR | Not tested | About 1.10x |
Seattle rents are low relative to values, so a DSCR refinance on a high-priced rental often lands at 60% to 70% of value, not 75% to 80%. The example shows the gap that creates. Before you take a large bridge, decide whether the exit is a sale, a partial sale, a refinance with extra cash, or a jumbo DSCR loan sized to the rent.
If a property cannot reach 1.0x at a useful loan amount, sub-1.0 DSCR programs exist, but they usually require lower leverage and more reserves.
Large Seattle bridge loans usually need a full valuation. View homes, waterfront and unusual lots can be hard to appraise because comparable sales are few. Allow time for that, and share any recent appraisals or valuations you have.
Expect more review of your experience, liquidity and the property's condition on larger balances. Builders should have permits, final inspections and the certificate of occupancy ready.
Washington's real estate excise tax is graduated, with the highest tiers on properties above roughly $3 million, plus a local portion. That cost hits when the property sells, so include it in any sale exit. King County reassesses annually, and a recent sale can push the next assessment up.
If the exit is a lease-up and refinance, remember that Seattle requires rental registration, long notice before rent increases and just-cause eviction. The rent you sign at lease-up is the rent you will refinance on.
Not every large Seattle-area bridge is a single expensive property. Some investors buy several homes at once in south King County, Pierce County or Snohomish County, for example a set of rentals in Kent, Auburn and Tacoma sold together by a retiring landlord, or a group of homes bought from a builder's spec inventory.
A bridge loan lets you close on the whole package quickly, renovate or lease vacant homes and then refinance into a blanket portfolio loan that qualifies on combined rent. Each home in the package needs title work and usually its own valuation, so allow time for that.
Packages outside Seattle often produce more rent per dollar of value than city properties, which can make the blanket refinance easier to size. Use each city's actual tax statements and current rents, and check local tenant rules in cities such as Tacoma and Burien, which have their own protections.
Some Seattle and Eastside sellers prefer buyers who can close fast, especially on estate sales and homes that need work. A bridge loan can close in as little as 10 days on the right file, though large balances with full valuations often take longer. Once the home is renovated or leased, a jumbo DSCR loan can replace the bridge. For statewide deals, see our Washington large bridge loan page.
Our investor loans are business-purpose loans on non-owner-occupied property. Use the form below or call (877) 298-1001 with the property details, current rents and what you want to accomplish, and we will size the loan against the cash flow and walk you through the options.
Yes, on an investment property. In Seattle, single homes often fall in the $1M to $5M+ range. Larger balances get more review.
Bridge rates start from 7.99%. Pricing on large balances is set case by case.
Yes. Paying off a maturing construction loan on finished townhomes or small buildings is a common use, followed by sales or a DSCR refinance.
Usually. Larger balances typically need a full valuation.
It depends on rent. In Seattle, DSCR refinances on high-value rentals often land at 60% to 70% of value to reach 1.0x.
Yes. Bellevue, Kirkland, Redmond, Mercer Island and other Eastside cities are part of the Seattle metro we serve.
No. Buildings with nine or more units are commercial. This program covers 1-8 unit residential investment property.
As little as 10 days on the right file, though full valuations on large balances often add time.
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