Blanket Loans are used to fund acquisition and refinance of multiple properties under one loan. Fixed rate financing is available up to 75% loan-to-value and interest only financing to 60% LTV. In addition, the properties must collectively meet a minimum debt coverage ratio for cash flow requirements. Blanket loans are available as non-recourse meaning there is no personal income verification – lending decisions are based strictly on the cash flow generated from the properties.

Lending CriteriaDescription
Purpose:
  • Purchase and Refinance
Property Type:
  • Single Family Residence (1-4)
  • Condominium
  • Townhomes
  • Apartments
Max Loan-to-Value
  • Recourse: Up to 75%  
  • Non-Recourse: Up to 60%
Borrower Types:
  • Individual or Single Purpose LLC
Cash Flow Analysis
  • 1.15%
  • 1.2% for interest-only (w/LTV>60%)
Recourse:
  • Recourse
  • Non-Recourse up to 60% LTV
Broker Fee:
  • 1-2 points (subject to loan)
Loan Term:
  • 5, 10 & 30-years
Loan Amounts:
  • $150,000 – $5,000,000
Closing Timeframes:
  • 60 days
Amortization:
  • 30-years
Minimum Individual Property Value:
  • $50,000
Minimum Number of Properties:
  • 5
Collateral & Security:
  • 1st Trust Deeds
  • Equity Pledge
Other Costs:
  • All 3rd Party Fees
Prepayment Premium:
  • 30-Year: None
  • 5 or 10-Year: Yes
Real Estate Tax & Insurance Escrows
  • Required
Replacement
  • Recourse: No
  • Non-Recourse: Yes

* Portfolio loans subject to business and investor credit approval, geographic, appraisal and other underwriting requirements. Blanket loans require a minimum of five eligible. Application fees, closing costs and other fees apply.