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By David Ghazaryan, NMLS 1486726, iQRATE Mortgages (NMLS 1862492). Updated Oct 29, 2026. Business-purpose loans for non-owner-occupied investment property only.
Quick answer: A blanket loan is one loan secured by several investment properties at once, so you get one closing, one note and one monthly payment instead of a separate mortgage on every rental. The trade-off is that the properties are cross-collateralized: they all back the same loan, and selling one usually means paying a release amount set in the loan documents. Two national portfolio programs we checked in October 2026 publish a five-property and $500,000 minimum, but every lender sets its own rules (varies by lender). iQRATE Mortgages (NMLS 1862492) is a mortgage broker based at 6360 S Rainbow Blvd in Las Vegas, Nevada, and we compare blanket loans against separate DSCR loans for investors in Nevada, California, Texas and Florida.
Start an application or call (702) 766-3744.
Sources: Fannie Mae Selling Guide B2-2-03, Multiple Financed Properties · Fannie Mae Selling Guide B3-4.1-01, Minimum Reserve Requirements · CFPB, Regulation Z 12 CFR 1026.3 (exempt transactions). Lender program figures are from lenders' public pages checked October 25, 2026; lenders are not named. Updated Oct 29, 2026.
A DSCR loan qualifies one rental on its own rent compared with its full payment. A blanket loan wraps several rentals into one loan. Here's how the two compare for a growing portfolio. For a deeper look at portfolio lending in general, see our portfolio loans guide.
| Feature | One blanket loan | Separate DSCR loans |
|---|---|---|
| Loans and payments | One loan, one note, one payment | One loan and one payment per property |
| Collateral | All properties secure the whole loan (cross-collateralized) | Each property secures only its own loan |
| Selling one property | Needs a release: lender consent plus a release payment set in the documents | Pay off that one loan; the others are untouched |
| If one property struggles | A default can put every pledged property at risk | Risk stays with that property's loan |
| Refinancing one property | Usually requires a release first | Refinance that loan on its own schedule |
| Typical minimum size | Often 5+ properties and $500,000+ (lender-published examples) | Single-property loans; minimums vary by lender |
| Closing | One closing, but lenders typically review every property | A separate closing for each loan |
| Prepayment terms | Often yield maintenance or another prepayment provision | Many DSCR loans carry a prepayment penalty; terms vary |
| Best fit | Stabilized rentals you plan to hold together | Properties with different sale plans, owners or timelines |
Typical structures, not offers. Terms vary by lender.
There's no single standard. These are program parameters two national portfolio lenders publish on their own websites; lenders are not named. They're examples of what's typical, not iQRATE terms and not a quote. Every lender also looks at the rents, the condition and location of each property, your credit and your reserves, and many limit how much of the pool can sit in one market or property type.
| Program | Minimum properties | Loan size | Leverage | Published structure |
|---|---|---|---|---|
| Program A (rental portfolio loan) | 5+ rental properties or units | $500,000 to $50 million+ | Up to 75% of value (70% on the 3-year term) | Fixed-rate structure; 3-, 5-, 7- or 10-year terms; recourse and non-recourse options |
| Program B (rental portfolio loan) | 5+ properties | Starting at $500,000 | Up to 80% loan-to-value | 10- and 30-year options; rate-and-term or cash-out; interest-only options |
Disclosure: Varies by lender; published parameters, not an offer. iQRATE Mortgages is not affiliated with these lenders, and inclusion is not an endorsement or a commitment to lend. No interest rate, APR or payment is quoted on this page. Your actual rate, APR, payment, term and fees depend on the lender, the properties, credit, reserves and market conditions, and are subject to underwriting and approval. Lenders change programs without notice. Business-purpose loans only.
A release clause (partial release provision) is the part of a blanket loan that lets you sell or refinance one property without paying off the whole loan. Read it before you sign, because it decides how flexible the loan really is.
When properties are cross-collateralized, the whole pool secures the loan. If the loan defaults, the lender can generally look to any pledged property, not just the one that stopped performing. That's why one vacant or damaged rental matters more inside a blanket loan than it does under its own separate loan. Ways investors manage it: keep reserves for the whole pool, leave out properties you expect to sell soon, and negotiate release terms up front.
Who it fits: investors who hold stabilized rentals for the long term and want one payment. Who it doesn't: investors who flip, plan to sell properties one by one, or hold properties under different owners. If you're past Fannie Mae's 10-property limit but want each property independent, separate DSCR loans may fit better. See all our investor loan options.
We're based in Las Vegas at 6360 S Rainbow Blvd, and iQRATE Mortgages is licensed by the Nevada Division of Mortgage Lending under NMLS 1862492. Nevada notes for a blanket loan:
See our Nevada, Las Vegas and Reno pages, our guide to Las Vegas and Reno rental portfolio blanket loans and Nevada blanket loan vs. multiple investor loans. Buying a property that won't rent yet? Start with our Nevada hard money loans.
Sources: NRS 40.430, Nevada one-action rule · NRS 375.090, transfer tax exemptions · NRS 107.080, trustee's power of sale · Clark County Recorder, transfer tax.
See our California mortgage broker page, blanket loan vs. DSCR loans in California and blanket loans for Sacramento and Fresno rentals.
Sources: California Business and Professions Code 10131 · California Code of Civil Procedure 726 · California BOE, Legal Entity Ownership Program exclusions.
See our Texas, Dallas and Houston pages, plus blanket vs. DSCR loans for Texas investors, blanket loans for Dallas rentals and blanket loans for Austin and San Antonio rentals.
Sources: Texas Constitution Art. XVI, Sec. 50 · Texas Property Code 51.002.
See our Florida and Miami pages, plus blanket loan vs. multiple DSCR loans in Florida, Florida blanket loans for Tampa and Orlando and blanket loans for Miami and Orlando rental LLCs.
Sources: Florida Statutes 201.08 · Florida Statutes 199.133 · Florida Statutes 201.02 · Florida Statutes 702.01.
State notes are general information checked October 25, 2026 (page updated Oct 29, 2026), not legal or tax advice.
A blanket loan is one loan secured by two or more properties at the same time. Real estate investors use it to buy, refinance or take cash out of several rentals under one note and one monthly payment. Because every property in the pool backs the whole loan, the properties are cross-collateralized.
It varies by lender. As of October 2026, two national portfolio programs we checked publish a minimum of five rental properties or units and a $500,000 minimum loan. Other lenders, including some local banks, set their own minimums.
Neither is better for everyone. A blanket loan gives you one closing and one payment, but it ties the properties together. Separate DSCR loans keep each property on its own, so selling or refinancing one does not touch the others. If you plan to sell properties one at a time, separate loans or a blanket loan with flexible release terms usually fit better.
A release clause, also called a partial release provision, lets you sell or refinance one property and take it out of the blanket loan without paying off the whole loan. You usually need the lender's consent and must pay a set release amount, which may be based on a formula rather than the property's share of the original loan. Get the release price in writing before you close.
When properties are cross-collateralized, the whole pool secures the loan. If the loan goes into default, the lender can generally look to any of the pledged properties, not just the one with the problem. One weak property can put the others at risk.
A blanket loan is not a Fannie Mae loan, so Fannie Mae's cap of 10 financed properties does not limit the blanket lender. Whether the blanket loan counts against you on a future conventional loan depends on Fannie Mae's counting rules, which include one- to four-unit properties where you are personally obligated on the mortgage. Ask the conventional lender how it will count your portfolio.
Usually, yes. Blanket and portfolio loans are business-purpose loans, and many portfolio lenders lend to an LLC or other business entity. Some lenders require a personal guarantee, while at least one portfolio program we checked lists both recourse and non-recourse options. Terms vary by lender.
Some lenders allow it; one portfolio program we checked lists multi-market cross-collateralization. Each property still follows the recording, tax and foreclosure rules of the state where it sits. Florida, for example, applies its 2-mill intangible tax only to the share of the loan secured by Florida real property.
Generally, no. Blanket loans are business-purpose loans for non-owner-occupied investment property. In Texas, a home equity loan on a homestead cannot be secured by any other real or personal property under Article XVI, Section 50(a)(6)(H) of the Texas Constitution.
Many do. Long-term fixed-rate portfolio loans may include yield maintenance or another prepayment provision. Ask for the prepayment terms and the release terms together, because selling one property out of the loan can trigger both.
Lenders typically ask for a schedule of the properties with addresses, values and current loan balances, leases and a rent roll, the LLC's formation documents, identification and credit for each guarantor, bank statements showing reserves, and property tax and insurance details. Each lender sets its own list.
iQRATE Mortgages (NMLS 1862492) is a mortgage broker, not a direct lender. We compare lenders that offer blanket and portfolio programs, place your loan with the one whose rules fit your properties, and tell you plainly when separate DSCR loans would serve you better. Call (702) 766-3744.
Send us your property list, rents and current loan balances, and we'll compare a blanket loan against separate DSCR loans side by side. Related guides: portfolio loans, 5-8 unit multifamily DSCR loans and all investor loan options. Watch our short video: Stop managing multiple loans: the blanket mortgage strategy.
Start an application or call (702) 766-3744.
Business-purpose loans for non-owner-occupied investment property only; blanket, portfolio and DSCR loans are investor loans for business purposes only, not for a home you live in. Credit extended primarily for a business purpose is exempt from Regulation Z under 12 CFR 1026.3(a). Information is educational and subject to change; it is not a commitment to lend, a loan approval or a rate quote. All loans subject to credit approval, property eligibility, underwriting and lender guidelines; programs, terms and eligibility vary by lender and borrower qualification and may change without notice. No interest rate, APR or payment is quoted on this page. Nothing on this page is legal or tax advice; consult a CPA or attorney about tax, entity and legal questions. Lender and agency facts checked October 25, 2026; page updated Oct 29, 2026. iQRATE Mortgages LLC, NMLS 1862492, 6360 S Rainbow Blvd, Las Vegas, NV. David Ghazaryan, Mortgage Broker, NMLS 1486726. (702) 766-3744. Equal Housing Opportunity. We do business in accordance with the federal Fair Housing Act and the Equal Credit Opportunity Act. Verify licensing at NMLS Consumer Access.
