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By David Ghazaryan, Mortgage Broker, NMLS 1486726 · iQRATE Mortgages, Company NMLS 1862492 · Updated November 12, 2026
A portfolio loan is investor financing outside Fannie Mae and Freddie Mac rules. The term covers two things. One is a loan a lender keeps on its own books. The other is a blanket loan that covers several rentals. For Caliente rental buyers, the question is which one fits the property, your papers and your exit plan.
iQRATE Mortgages is a mortgage broker based in Las Vegas and licensed in Nevada. We arrange these loans through lenders. We are not the lender. We do not fund loans. Call (702) 766-3744 or start an application. This page is general information, not a commitment to lend.
Here are the sourced figures used on this page. Each has its source. None is an iQRATE offer.
| Figure | What it is | Source |
|---|---|---|
| 10 | Most financed properties for a second home or investment loan through Desktop Underwriter | Fannie Mae selling guide |
| 1 | A 2-4 unit building counts as one property | Fannie Mae selling guide |
| 3.6600 | Caliente tax rate per $100 of assessed value, FY 2025-26 | Nevada Department of Taxation |
| 1.3375 | Lincoln County rate line on the Caliente row | Nevada Department of Taxation |
| $1,281.00 | Bill shown for a home with $100,000 taxable value | Nevada Department of Taxation |
| 1.00 | DSCR where rent roughly equals the qualifying payment | Standard definition |
| 2005 and 2008 | David entered the mortgage industry, then founded a tax practice | David Ghazaryan |
| 6,000+ | Tax returns David has prepared | David Ghazaryan |
| Under 3 weeks | Closing time of the Las Vegas DSCR transaction David describes below (not a Caliente one, not a promise) | David Ghazaryan |
| 4 | States where iQRATE is licensed: Nevada, California, Texas and Florida | iQRATE disclosures |
| 8.0% | Clark County general property-tax cap for fiscal year 2026-27 (a Clark County figure, not a Caliente one) | iQRATE portfolio loans page |
| 77, 9 and 51 | Review counts shown on Google, Zillow and Yelp, each rated 5.0 on its platform | Review platforms |
Caliente is a taxing unit listed by the Nevada Department of Taxation, with a Lincoln County line in the same publication. Its Fiscal Year 2025-2026 Final Tax Levied report lists the labeled figures below, worded as the report words them.
| Report item (FY 2025-26) | Figure listed | Report wording |
|---|---|---|
| Caliente tax rate (entity table) | $3.6600 per $100 of assessed value (3.6600%) | The report states its rates per $100 of assessed value. The percent is the same number, not a share of market value. |
| Lincoln County rate line | $1.3375 per $100 (1.3375%) | Listed on the Caliente district row. |
| Valuation figure on the Caliente row | $23,920,005 | Listed in the report's valuation column; the report does not call it a bill. |
| Other rate columns on the Caliente row | $0.9115 (0.9115%), $0.2679 (0.2679%), $0.9731 (0.9731%) and $0.1700 (0.1700%) per $100 | Listed beside the 1.3375 and 3.6600 figures; column headings are in the report. |
| Rate columns in the imposed-rate table | $3.4056 (3.4056%), $0.9115 and $1.2041 (1.2041%) per $100 | Listed on the Caliente row of a separate table in the same report. |
| Bill in the property tax impact table | $1,281.00 | The report's impact table shows this bill for a home with $100,000 taxable value. |
This page quotes only those labeled figures. We do not turn the rate into a bill. We do not state an assessment ratio. Do not multiply one figure by the other. Read the full report. Then check your parcel with the county. Call David at (702) 766-3744 to talk it through.
Want us to review a Caliente-area deal? Call (702) 766-3744 and ask for David.
Why it matters: taxes are part of the payment a lender reviews. So are principal, interest and insurance. For a rental, your rent has to cover that payment. Run your own numbers before you make an offer.
Nevada also charges a real property transfer tax on many sales. See the Nevada Department of Taxation transfer tax page and NRS Chapter 375. Budget for it on every purchase. Rates change each fiscal year.
These are program types, not offers. Each lender sets its own rules. Terms change without notice. We review each Caliente-area property one file at a time.
| Structure | How it qualifies you | Best fit | Main trade-off |
|---|---|---|---|
| Conventional (Fannie Mae / Freddie Mac) | Personal income, credit and reserves | Investors with few financed properties and W-2 or tax-return income | Agency limits on financed properties; stricter reserve rules as you grow |
| DSCR loan | Property rent versus the monthly property payment | Purchases and refinances where personal DTI is the obstacle | Business-purpose only; the property has to carry itself |
| Single-lender portfolio loan | The lender's own guidelines, kept on its books | Properties or borrowers that agency rules do not fit | Guidelines vary widely; prepayment terms need careful reading |
| Blanket loan | Several properties pledged under one loan and one payment | Investors consolidating a growing rental set | Cross-collateralization: the properties secure one another |
| Bank statement program | Deposits on business bank statements instead of tax returns | Self-employed investors whose returns understate cash flow | Heavier documents on cash-flow history |
Fannie Mae's selling guide allows up to 10 financed properties. That applies when the new loan is for a second home or investment property run through Desktop Underwriter. Your own home counts if it has a mortgage. A 2-4 unit building counts as one property. Read the rules: multiple financed properties, minimum reserve requirements, cash-out refinance transactions and general borrower eligibility.
Past the agency cap, investors usually move to DSCR or portfolio financing. Conventional money is usually the cheapest an investor can get, so most use every agency slot first. Our serial investor loans page walks through that sequence.
It depends on the program. Here is what lenders usually ask to see. Gather it before you call.
Portfolio, DSCR and blanket loans are for business-purpose investment property only. They are not for a home you will live in. Business-purpose credit is generally outside the consumer-credit rules summarized in Regulation Z, 12 CFR 1026.3.
Every lender writes its own terms. We do not quote any here. Ask each lender for these items in writing:
Two programs can look alike. They can still differ on every line above. A broker can line them up side by side. Call (702) 766-3744 and we will do it with you.
These figures come from Fannie Mae's published selling guide, linked above. They are agency rules, not iQRATE offers.
| Rule topic | What the guide says |
|---|---|
| Financed properties, second home or investment loan through Desktop Underwriter | Up to 10 |
| A 2-4 unit building | Counts as 1 property |
| Your own home with a mortgage | Counts toward the total |
| Reserves | Rise as you add financed properties; see the minimum reserve requirements page |
Count your own properties first. Then decide whether the next purchase stays agency or moves to DSCR or a portfolio lender.
I invest in real estate myself. I look at a growing portfolio the way an owner does: cash flow, reserves and your exit plan. In my words: "One thing being a real estate investor has taught me is that getting a loan approved and making a good investment are two different things." — David Ghazaryan
David also says: "I've seen investors spend weeks negotiating a purchase price and then barely examine the financing terms." Before you sign, we walk through six items:
It is a lender's charge if you pay off or refinance the loan early. Some loans have one. Some do not. It depends on the lender. Ask for the exact terms in writing. Then match them to your plan to hold, refinance or sell. Questions? Call (702) 766-3744.
DSCR stands for debt-service coverage ratio. It compares a property's rent to its monthly qualifying payment. A ratio near 1.00 means the rent is about equal to that payment. Below 1.00, the rent is less than the payment. Above 1.00, it is more. Each lender sets its own minimum. We check the program before you write an offer.
A DSCR loan looks at the property. A bank statement loan looks at you. DSCR fits an investor whose rent covers the payment. Bank statements fit a self-employed borrower whose tax returns show low income. Some deals suit one. Some suit the other. We help you pick. Call (702) 766-3744.
Know your cost of carry before you buy. Nevada's transfer tax matters. So does how you hold title. If you plan to use an LLC, ask your attorney first. Then tell us. We will ask each lender how it treats an LLC.
Lenders set their own rules on property location and type. A small-market property is reviewed one file at a time. We are a broker, not one lender. So we can take a Caliente-area deal to more than one program. Reach us at (702) 766-3744. We do not promise that every property will qualify. If a deal does not fit a program, we say so. We also say what could change that.
This is a real transaction I handled. It is anonymized and located in Las Vegas, not Caliente. A client's financing fell apart on a brand-new Las Vegas investment property. The builder's preferred lender denied her loan. She had met the builder's requirement to apply through its lending channel, and the builder agreed to honor its incentives if she got outside financing.
We arranged a DSCR mortgage that used the property's rental income instead of her personal debt-to-income. The debt-service coverage ratio was about 1.00, and we closed in less than three weeks. The lesson I took: a denial does not mean a good opportunity is dead. Sometimes the answer is understanding the purchase contract and choosing the program that fits the investment.
Questions about a Caliente-area rental? Call (702) 766-3744 and ask for David.
David is the owner and broker of iQRATE Mortgages. He entered the mortgage industry in 2005. He founded a tax practice in 2008 and has prepared more than 6,000 tax returns. He is also a real estate investor. See the about page for the team.
Company-wide reviews, quoted verbatim from other markets and loan types. None is about a Nevada rural property. Reviews do not guarantee any result.
Ratings shown on the review platforms: 5.0 stars from 77 reviews on Google, 5.0 stars from 9 reviews on Zillow, and 5.0 stars from 51 reviews on Yelp.
"Andrei and David were so great! They're helpful and communicated everything with me through the whole process. I am so pleased and look forward to using iqrate for my future investment properties. 10/10 Will be reccomending to friends."
Kassandra Arthur, Google review, investment property (other market)
"David handled the purchase of my investment duplex in Olympia - Washington State. He came recommended by my realtor, and was very attentive, closed on time, and communicated clearly."
Nnamdi Chima, Zillow review, investment duplex in Olympia, WA (other market)
"The team at iQRate Mortgages is experienced, thorough, and professional. They are also very personable and are there to walk you through the process step by step. I highly recommend iQRate Mortgages for a seamless processing of your Mortgage loan. My experience with them was very good. I have also been a client of David's for a couple of decades. I have always had a wonderful customer service experience."
shawnda urquidi, Google review (company-wide, other market)
"The best experience that I have ever had with mortgage company, David and his team are awesome and they always keep me updated on a daily basis about my mortgage process. They are professional, down to earth, helpful and they always available to answer all your questions. Thank you David and iQRate mortgages"
Edmond Boghosian, Google review (company-wide, other market)
"Very efficient and transparent service. They go above and beyond to deliver the loan closure on time even in a very tight time line. Also very resourceful and knowledgeable staff. I'll go to them again next time I need a loan."
Rita S., Yelp review (company-wide, other market)
"Thank you Andrei and David again for being professional and very patient. They both helped my brother to buy a house in time. They know what they're doing. We're glad that we choose iQRate Mortgage."
Reviewer shown as "ศิวกร น.", Yelp review (company-wide, other market)
"Outstanding service with the help from this team! Everything was smooth, effortless, and headache free! They answered all my questions with ease & I will recommend friends and family as well! I most definitely will continue using this company for future mortgage needs!"
Ryan Lulo, Google review (company-wide, other market)
Read more on our reviews page.
Possibly. Lenders set their own rules on property location, type and condition, so we review each Caliente-area property individually. We do not guarantee approval, and nothing here is a commitment to lend.
A portfolio loan is a broad term for investor financing outside Fannie Mae and Freddie Mac rules. A DSCR loan is one common type. It qualifies the property by comparing its rent to its monthly payment instead of using your personal income. See the portfolio loans overview for the statewide picture.
Fannie Mae allows up to 10 financed properties for a second home or investment property run through Desktop Underwriter, per its published selling guide. Past that, investors usually look at DSCR or portfolio financing.
A blanket loan puts several properties under one loan and one payment. The properties are cross-collateralized, so each one backs the others.
No. DSCR, blanket and portfolio loans on this page are business-purpose loans for non-owner-occupied investment property only.
The Nevada Department of Taxation lists a Caliente tax rate of 3.6600 per $100 of assessed value for FY 2025-26, and its impact table shows a $1,281.00 bill for a home with $100,000 taxable value. This page does not convert between the two. Confirm the current figures with the official publication and the county.
Not necessarily. Many lenders allow personal or entity ownership, but rules differ by program. Ask your attorney and tax adviser about structure. Ask us how a given lender treats entity vesting.
Yes, a blanket loan can. It pledges several properties under one loan. Ask how a sale or release of one property works before you commit.
Start with a lease or rent estimate, entity papers if you use an LLC, reserve statements, a schedule of your financed properties and the property's tax and insurance details.
No. DSCR programs focus on the property's rent. Bank statement programs use business deposits. Conventional loans use personal income and tax returns. Each lender sets its own rules.
Not always. A different program may fit the same property. Review the purchase contract and the options before you walk away.
No. iQRATE is a mortgage broker. We arrange loans through lenders and do not fund loans.
It means more than one property secures the same loan. If you sell one, the lender may need to agree to release it. Ask about partial release terms before you sign.
It is a property's rent divided by its monthly qualifying payment. A ratio of 1.00 means the two are equal. Each lender sets its own minimum.
Yes, it can. The 3.6600 figure is from the Fiscal Year 2025-2026 report. Check the newest Nevada Department of Taxation publication before you buy.
No. We do not guarantee approval, rate, timing or savings. Each file goes through underwriting.
Call (702) 766-3744, use our contact page, or apply online.
Bring the property address, how you plan to hold title, and your exit plan. Call David at (702) 766-3744 today. Prefer to write first? Use the form on the contact page. Or start your application online.
iQRATE Mortgages, Company NMLS 1862492. David Ghazaryan, Mortgage Broker, NMLS 1486726. Licensed in Nevada, California, Texas and Florida. Verify us on NMLS Consumer Access. iQRATE is a mortgage broker, not a lender. Equal Housing Opportunity. This page is general information and is not a commitment to lend. Programs, terms and eligibility depend on credit, property, rent and underwriting review and are subject to change without notice. Portfolio, DSCR and blanket loans are business-purpose loans for non-owner-occupied investment property only. Call (702) 766-3744.
