Blanket loans: several rentals, one loan.
Finance a group of rental properties with one loan, one closing and one payment. It qualifies on the combined rent, not your income.
For investors past the conventional 10-property cap, or tired of managing a loan per house.
Get your same-day term sheet
A few quick questions. No credit pull.
What is the loan for?
Tap one.
Program snapshot
- Properties
- Several in one loan
- Qualifies on
- Combined rent
- Tax returns
- Not needed
- Borrower
- Your LLC
- Foreign investors
- Yes, no SSN
- Term sheet
- Same day
What you get
- One loan, one closing, one monthly payment
- Qualifies on the combined rent of the portfolio
- Single-family and 2-4 unit rentals
- No conventional 10-property cap
- Cash-out on the portfolio's equity
- Closes in your LLC
Term sheet
Same day
Who it's for
- Holding several rentals with a loan on each
- Buying a package of rentals in one purchase
- Past the 10 financed properties conventional loans allow
- Pulling equity out of a whole portfolio at once
What is a blanket loan?
A blanket loan, also called a portfolio loan, finances several rental properties with one loan, one closing and one monthly payment.
All the properties secure the loan together.
On a DSCR portfolio loan the lender compares the combined rent with the combined payment. Your personal income and tax returns are not used.
One loan for all, or one loan per property?
One loan means one closing, one payment and one maturity date to manage. It also ties the properties together: the lender holds a lien on all of them.
Separate loans keep each property on its own. They take more closings, but you can sell or refinance one without touching the rest.
If you plan to sell properties along the way, ask how a partial release works before you sign.
Blanket loan, at a glance
- One loan, one closing, one payment
- Qualifies on the combined rent
- Single-family and 2-4 unit rentals
- Closes in your LLC
- No conventional 10-property cap
What you send
A schedule of the properties with address, value, current loan balance and rent for each. Add the leases, insurance and the LLC documents.
The term sheet sets the loan amount and leverage for the whole portfolio.
From request to funded
Send the schedule
Each property's address, value, balance and rent.
Same-day term sheet
Loan amount and leverage for the whole portfolio. No hard credit pull.
One closing
Appraisals, title and one closing for every property.
Frequently asked questions
What is the difference between a blanket loan and a portfolio loan?
In investor lending they mean the same thing: one loan secured by several properties.
How many properties can a blanket loan cover?
It depends on the program. Send the property schedule and the term sheet states what fits in one loan.
Do I need tax returns?
No. A DSCR portfolio loan qualifies on the properties' combined rent, not your income.
Can I sell one property and keep the loan?
Often, through a partial release: you pay down part of the loan to take one property off it. Terms vary, so ask before you sign.
Can foreign nationals get a portfolio loan?
Yes, through a U.S. LLC. Foreign nationals borrow up to 70% on a single rental; portfolio leverage is set per deal.
Sources
Related
Ready to price your deal?
Term sheet the same business day. No hard credit pull.