Massachusetts Bridge Lenders for Residential Investment Property
Are you seeking a bridge loan secured by residential property in Massachusetts? On this page you'll find a list of select bridge lenders for Massachusetts investment properties with 1 to 4 units. To get a 1st lien bridge loan, you must have at least 30% equity. Due to state laws and regulations, it's not possible to get a bridge loan for a homestead (owner-occupied primary residence) or 2nd home. Change the loan type to 'Residential Owner-Occupied' to find some alternative lending options.Some residential property bridge loan lenders only consider properties in the Boston Metro Area. If the subject property is in or near Boston, click the button below:
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Nationwide Mortgage
Outstanding Service for Investment Property Bridge, Rehab, Rental, and Construction Loans
Massachusetts Bridge Loan Interest Rates
According to the loan documents software company, Lightning Docs, the average interest rate for Massachusetts bridge loans in the 4th quarter of 2023 was 11.03%. The average loan amount was $601,359. These stats are the average of 123 short-term loans (including rehab and ground-up construction loans) funded for properties in Massachusetts between October 1, 2023 and December 31, 2023 by multiple bridge lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
According to private lending data provider, Analytics Logics, the average interest rate for bridge loans secured by residential investment properties in Massachusetts in the 4th quarter of 2023 was 10.97%. Lenders charged an average of 2.3% points (origination fee). The average LTV (loan-to-value) for bridge loans in Massachusetts was 73%, and the average loan amount was $588,139. These stats are the average of all the loans which were funded between October 1, 2023 and December 31, 2023 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Funded Residential Bridge Loans in Massachusetts
Refinance Bridge Loan for Single Family Rental Property in Nantucket, Massachusetts
$3,500,000
Stormfield Capital, a technology-enabled direct portfolio lender, funded a $3,500,000 1st lien position refinance bridge loan secured by a single-family rental home located in a vacation area in Nantucket, MA. The property value was $6,800,000 so our loan-to-value was 51%. The bridge loan gave the Borrower the ability to recoup equity held in the investment property which was owned free-and-clear of any mortgages or liens. The cash out was needed for other investments. Stormfield closed this loan in 2 weeks. The 4,500-square-foot subject property was in excellent condition and rented out as a vacation rental. The Borrower had excellent credit and a huge net worth. They plan to continue leasing the property and eventually refinance with a bank as an exit strategy. The interest rate was 11.25% and we charged 1% origination points. The Broker earned a $35,000 commission. The loan term was set at 12 months. This SFR refinance bridge loan was funded in October 2023.Â