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A portfolio loan is investor financing that doesn't follow Fannie Mae and Freddie Mac rules. People use the term for two things: a loan the lender keeps in its own portfolio under its own guidelines, and a blanket loan that covers several rentals under one loan. Investors usually look for one when they reach Fannie Mae's limit of 10 financed properties, want to hold title in an LLC, or don't want their personal income to decide every purchase. Many DSCR and portfolio lenders don't have the same 10-property cap. iQRATE Mortgages (NMLS 1862492) is a Las Vegas mortgage broker run by an investor, and we compare more than 100 lenders for rental financing in Nevada, Texas, Florida and California.
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Written by David Ghazaryan, Mortgage Broker (NMLS 1486726), iQRATE Mortgages (NMLS 1862492). Licensed in Nevada, California, Texas and Florida. Updated October 2026.
I invest in real estate myself, so I look at a growing portfolio the way an owner does: cash flow, reserves and your exit plan. The right loan for your fourth rental is often not the right loan for your eleventh. My job is to run each purchase or refinance through the options that fit and tell you plainly when a deal doesn't pencil.
Separate DSCR loans. Each rental qualifies on its own rent compared with its full monthly payment (PITIA), not your tax returns. Because every property has its own loan, selling one doesn't touch the others. Example terms from one of our DSCR lenders (October 2026): loans from $75,000 to $5 million, a 680 minimum credit score, ratios as low as 0.75, 12 months of reserves, and LLC vesting at some of our lenders, always with a personal guarantee. See our DSCR loan guide for the full terms.
One blanket loan. A blanket loan puts several properties under one loan and one payment. The properties are cross-collateralized, which means they all back the same loan. Read the release terms carefully: they spell out what it costs to sell one property out of the loan.
We're based in Las Vegas at 6360 S Rainbow Blvd. Two things to plan for: typical Las Vegas rents often don't cover a typical payment at 20% down, so the lender you choose matters, and a rental falls under Clark County's general property-tax cap of 8.0% for fiscal year 2026–27, not the 3% cap on an owner's primary home. Buying a flip or a property that won't rent yet? Our Nevada hard money loans can buy it, and a DSCR loan can refinance it once it's rented. In Las Vegas, Red Rock Realty, our affiliated brokerage, can help find and negotiate the next property. See our Las Vegas, Reno and Nevada pages and our guide to portfolio loans in Las Vegas and Reno.
Texas has no state income tax and no transfer tax, but high property taxes reduce the rent coverage on DSCR loans, so budget for them on every property. Investors in Houston and Dallas often move to DSCR and portfolio financing once they pass 10 financed properties. See our Houston, Dallas and Texas pages, plus our guides to portfolio loans for Texas rentals and financing more than 10 properties in Houston and Dallas.
Florida buyers pay doc stamps on the mortgage note ($0.35 per $100 of the loan) and intangible tax (0.2% of the loan) on every new loan, so a portfolio refinance carries those costs too. Condo investors sometimes need a non-QM lender when a building is non-warrantable. See our Miami and Florida pages and our Florida LLC rental portfolio guide. Investing in California? Read how to finance 10+ properties in California.
iQTAXX, our affiliated tax services company, offers Zoom tax and cost segregation consults for investors in Nevada, California, Texas and Florida. iQTAXX uses legal tax strategies only. Consults are optional, and you can work with your own tax professional instead. See our real estate investors page.
A portfolio loan is investor financing that doesn't follow Fannie Mae and Freddie Mac rules. The term covers a loan a lender keeps in its own portfolio under its own guidelines, and a blanket loan that covers several rentals under one loan.
Fannie Mae allows up to 10 financed properties when the new loan is for a second home or investment property and it's run through Desktop Underwriter. Your own home counts if it has a mortgage, and a 2–4 unit building counts as one property. Past 10, investors usually move to DSCR or portfolio financing.
Not always. A blanket loan is one kind of portfolio loan: several properties under one loan and one payment. Many investors instead use separate DSCR loans from a lender that doesn't have Fannie Mae's 10-property cap.
The properties are cross-collateralized, so they all back the same loan. Read the release terms carefully, because they spell out what it costs to sell one property out of the loan.
Yes, with some lenders. The DSCR lenders we use for LLC closings always require a personal guarantee from the owners.
Most DSCR loans do. Common options are 5, 4, 3, 2 or 1 year, or none. A longer penalty usually gets a lower rate. Our clients most often pick 2 years.
Yes. iQRATE Mortgages arranges DSCR and other investor loans in Nevada, Texas, Florida and California. Our private money (hard money) program is for Nevada properties only.
Usually, yes. DSCR and portfolio loans are priced by each lender and typically cost more than a conventional investment loan, in exchange for flexible rules on income, property count and title.
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Affiliated business arrangement: iQRATE Mortgages LLC, Red Rock Realty LLC and iQTAXX Tax Services Las Vegas are affiliated companies. A referral from one to another may give the referring company a financial or other benefit. You are not required to use any affiliated company as a condition of buying, selling or refinancing a property or preparing your taxes, and you're free to shop around for other providers. Read the full Affiliated Business Arrangement Notice.
iQRATE Mortgages · NMLS 1862492 · 6360 S Rainbow Blvd Ste 101, Las Vegas, NV 89118 · Licensed in Nevada, California, Texas and Florida. David Ghazaryan, Mortgage Broker, NMLS 1486726. Verify us on NMLS Consumer Access. Equal Housing Opportunity. DSCR and portfolio loans are business-purpose loans for non-owner-occupied investment property. Lender terms on this page are examples from specific lenders as of October 2026; none is a rate quote, loan offer or commitment to lend. Nothing on this page is tax or legal advice.
