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Rental portfolio calculator.
Multiple doors, one instrument. Coverage is tested across the portfolio rather than property by property, which changes what the weak ones can do.
Your deal, in focus
See how the numbers move.
Adjust the assumptions to explore your deal. Your estimate updates as you go.
Maximum LTV sets the value-based loan limit. Income coverage can reduce the actual loan below that limit. Enter annual tax and insurance for the entire portfolio. Other operating costs exclude both. Cash-out deducts the entered refinance costs; cash flow is before income tax and capital replacements.
Use nonnegative figures. Financing shares and rental expense allowances cannot exceed 100%. Loan limits depend on the value or cost basis shown beside each field.
Assumptions behind this estimate
This model screens on net operating income divided by principal and interest. Portfolio programs can instead use gross rent over PITIA, so confirm the lender's actual method. Other operating costs include vacancy, management, repairs, and association dues, but exclude taxes, insurance, and debt service, which are counted separately. NOI is annual. Capital replacement reserves should also be budgeted before spending the estimated cash flow. The loan is the lower of the LTV ceiling and the largest loan that holds 1.25 coverage. Rate and term here are yours to set.
Cash out
Your numbers at a glance
Each bar compares an amount. Bars are not portions of a total.
Estimate only, based on the figures you entered. Not a quote, an approval, an appraisal or a commitment to lend, and subject to underwriting.
Income sizes this loan, not value. The 75% ceiling would allow $862,500, but holding 1.25 coverage caps it at $826,766. After payoff and closing costs that returns $330,230, about $55,038 a door.
The modeled loan is limited by income, not value. More rent, lower expenses, or a lower rate may increase supported debt. This is a planning limit, not a lending decision.
Save these numbers, then adjust your inputs above.
Get terms on this deal
Estimate only, based on the figures you entered. Not a quote, an approval, an appraisal or a commitment to lend, and subject to underwriting.
This sends the numbers above straight to me for a person to underwrite. You get an initial written response in 24 to 48 hours, and a straight answer either way. Terms, if offered, are subject to underwriting and approval.
How to read it
What the number means.
Refinancing five doors as five loans means five closings, five sets of costs and five separate coverage tests, each of which a single weak property can fail. Refinancing them as one instrument tests the portfolio as a whole, which is a materially different question.
That blending is the advantage and also the thing to watch. A strong property carries a weak one, which is useful right up to the point where you want to sell the strong one, because it is now collateral for a loan that depends on it.
What this works out is the total equity a portfolio releases and the coverage the combined debt has to hold, so the tradeoff is visible before the paperwork rather than after.
Questions
Understanding your results.
How many doors do I need?
Five or more is where a portfolio instrument starts to make sense. Below that the arithmetic rarely beats individual loans.
Is coverage tested per property or across the portfolio?
Across the portfolio, which is the main structural difference from financing each door separately. A property that would fail on its own can be carried by the others.
Can I sell one property out of the portfolio later?
Usually, through a release provision, and the terms of that provision matter more than most borrowers expect at closing. Read it before you sign rather than when you want to sell.
Does this replace a DSCR loan?
It is the same idea applied to several properties at once. One door is a DSCR loan; five is a portfolio instrument.
Method
Where these numbers come from.
Blanket loans: refinancing five or more doors in one closing
One loan, one closing, one payment across a portfolio. What it solves, what it costs, and the release clause that decides whether you can sell one property.
DSCR loan requirements: how the ratio works and what it has to hit
A DSCR loan qualifies the property, not you. Here is how the ratio is calculated, the number it needs to clear, and how to fix a file that misses.
BRRRR seasoning: how long before you can refinance at the new value
Seasoning is the rule that decides whether you get your capital back in month four or month twelve. Confirm it before you buy, not after the rehab is done.
Other tools
The rest of them.
Maximum offer calculator, Rental cash-flow calculator, Cash-out refinance calculator, Hard money loan calculator, Fix and flip calculator, ARV calculator, BRRRR calculator, DSCR calculator, Rehab cost calculator, Construction loan calculator, Transactional funding calculator.
This is an estimating tool. It runs arithmetic on the figures you enter using the assumptions stated above, and changing an assumption changes the answer. The result is not a quote, an approval, an appraisal, a valuation, or a prediction of what a property will sell for, and it does not commit anyone to lend. Costs, taxes and market conditions vary by location and change over time. Check the numbers that matter against your own contractor, agent and professional advisers before you commit to a deal.
When the numbers work
Get it underwritten.
A calculator cannot see your property. Estimate only, based on the figures you entered. Not a quote, an approval, an appraisal or a commitment to lend, and subject to underwriting. Send the deal and a person reads it: you get an initial written response in 24 to 48 hours, and a straight answer either way. Terms, if offered, are subject to underwriting and approval. No credit pull to get an answer.