How to refinance multiple rental properties into one loan.

Why one loan instead of ten

Every loan you close carries its own costs: lender fees, an appraisal process, title work, and a closing. Finance ten rentals separately and you pay for all of that ten times. A portfolio loan, sometimes called a blanket loan, covers the group with one mortgage: one appraisal process, one title process, one closing table.

Bundling often saves thousands of dollars per property in fees. Across a larger portfolio, that can add up to tens of thousands. And after closing, you manage one loan and make one payment instead of tracking a stack of them.

Who it is built for

Portfolio programs usually start around five properties. They fit investors with five or more finished rentals, rented or vacant and ready to rent, investors consolidating several small loans into one, and owners who want to pull equity out of a whole group at once instead of refinancing house by house.

With only two or three rentals, separate DSCR loans often price better. Portfolio loan or separate loans walks through that decision.

Scaling past one loan

There is no cap on portfolio size. A larger book gets packaged into multiple portfolio loans, each sized to price well, so one oversized loan does not drag down the terms on everything you own.

Each property is underwritten on its own numbers, which also means a weak property does not have to come along. Sometimes the right move is to leave it out of the portfolio loan and finance it separately.

How lenders look at a portfolio

A portfolio loan follows the same DSCR framework as a single rental: up to about 75% of value, a 30-year fixed, credit minimums starting around 640 to 660, and no W-2s or tax returns. The rent on each property has to cover that property's share of the payment, with a ratio above 1.0, calculated property by property and never blended.

Lenders reject rents the owner hopes to get and averaged numbers. The schedule uses what each lease says, or market rent for a vacant unit.

How the process works

Send the list. Addresses, rents, and what you owe on each. We send our property schedule template so nothing gets blended.

We verify and size it. Before anything goes to a lender, we check each property's value against county records and recent sales, and the rents against the market. A low appraisal on two or three properties can blow up a portfolio loan, and it is much cheaper to find that out first. Then we size it as one loan or several.

Close in about 45 days. A complete, clean schedule up front is the biggest factor in hitting that.