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Rental portfolio refinance.
Pull equity across five or more doors in a single closing instead of running several refinances in parallel, each with its own underwrite and its own timeline.
How it works
One underwrite, several properties.
A rental portfolio refinance secures a single loan against multiple properties at once, closed in one transaction with one set of documents and one payment, rather than a separate mortgage negotiated and closed on each property individually. It is built for an investor who already owns a group of doors and wants to pull equity or consolidate financing across them.
Underwriting looks at the portfolio the way a DSCR loan looks at a single property: the combined rent against the combined debt service, along with the condition and location of each property individually. A strong property in the portfolio does not carry a weak one by itself, but the structure lets the group be financed together instead of five separate underwrites running on five separate clocks.
The release clause is the term that matters most once the loan is in place. It sets what has to be paid down to release a single property out of the portfolio if it is sold later, and it is usually more than that property's proportional share of the balance. That term is negotiated at closing rather than discovered when a sale is already under contract.
This product fits an investor planning to hold the portfolio. If the plan is to sell properties off individually soon, separate DSCR loans on each one are often the simpler and more flexible instrument, and that tradeoff is worth having before choosing a structure rather than after.
What to bring
What this needs from you.
Required
- Five or more properties intended for the portfolio, generally.
- Rent rolls or leases for each property in the portfolio.
- Current mortgage statements and payoff information for each property being refinanced.
- Basic credit and reserves across the portfolio.
- An entity in good standing holding title to the properties.
Terms, plainly
The whole box, before you ask.
Most lenders make you get on a call to learn this. Here it is.
| Scope | 5 or more doors in a single closing, generally |
|---|---|
| Qualification | Combined portfolio rent against combined debt service |
| Rate and points | Set by credit, the portfolio and the deal. Your number is in the term sheet. |
| Decision | 24 to 48 hours from a complete submission |
| Time to close | 21 to 30 days, subject to title clearance across every property |
| Release clause | Set at closing, stating what pays down a single property's exit from the portfolio |
| Property types | Non-owner-occupied residential, 1 to 4 units, and small multifamily |
| Not funded | Owner-occupied homes, primary residences, and any consumer purpose loan |
Questions
Answered without the phone call.
How many properties do I need for a portfolio refinance?
Commonly five or more. Below that, separate DSCR loans on each property are usually simpler and often a better fit.
What is a release clause and why does it matter?
It is the provision that lets you sell one property out of the portfolio without repaying the whole loan. It sets what must be paid down to release that property, usually more than its share of the balance, and it is worth reading closely before you sign.
Can one weak property in the portfolio sink the whole refinance?
It affects the terms rather than automatically stopping the file. The combined numbers matter most, but a property that is vacant, distressed, or carrying no lease at all gets underwritten as what it is.
Is this the right instrument if I plan to sell a few properties soon?
Maybe not. If several sales are already planned, separate DSCR loans are often more flexible than negotiating a release clause on each one. Say so in the submission and the conversation can start there.
Do all the properties need to be in the same state?
No. Lending is nationwide, and a portfolio spanning several states is underwritten the same way, property by property, inside the same closing.
Guides
Written to go with this program.
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 or conventional: which one fits the deal
Two ways to hold a rental long term. One underwrites the property, the other underwrites you. The right answer depends on facts you can check today.
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.
Who uses this
Depending on who you are.
Where
Lending is nationwide.
Lending is nationwide. The states below have their own page because they are where the most deals come from, not because they are the only places money goes. If your property is somewhere else, submit it anyway; the terms do not change with the postmark.
New Jersey, Pennsylvania, New York, Texas, Ohio, Indiana, North Carolina, South Carolina, Virginia, Maryland, Delaware. See all markets.
Submit a deal
Let's price it.
No credit pull, no obligation, and a real answer either way. If it is not a fit I will tell you why, and usually who to call instead.
- Terms in 24 to 48 hours
- Written, not verbal
- One person, start to finish
5+ doors · 21 to 30 days