Is A Blanket Loan Right For Me?
At NSS Lending our mission is to provide our clients with the best mortgage loan products and services available. We strive to make the loan process as stress-free and simple as possible. With our unique blanket loan program, we help minimize the headache of managing multiple rental loans by combining your entire portfolio of properties into one loan.
Minimum
Two Doors
Up to 75% LTV
Minimum credit score 650
30-Year Fixed
Per door value > $50,000
CASH TO INVEST
Having one mortgage saves you the cost of multiple lender fees associated with closing the loan: origination fees, processing fees, service fees, third party fees, and more, leaving you more money to invest in other projects.
BETTER INTEREST RATE
​​Your current mortgages will undoubtedly carry a number of different interest rates, some of which might be unfavorable. A blanket loan refinance provides the opportunity to bring everything together under one interest rate.
What should I consider when deciding if a blanket loan is right for me?.
CROSS
COLLATERALIZATION
RISK
A cash-flow crunch on just one property can crash your entire asset group. All-or-Nothing Foreclosure: Lenders hold a single lien over the combined portfolio, allowing them to seize all properties to recoup losses. ​
STRICT RELEASE CLAUSE
​You cannot easily sell off a single property unless your loan explicitly contains a partial-release clause. Selling an asset without this clause can accidentally trigger a "due-on-sale" rule, forcing you to pay back the entire remaining portfolio balance instantly.
MIGHT NOT GET MAX LTV
The portfolio is only as good as it's least perfoming property, so in other word if one of the homes DSCR suports a 60% LTV then all of the properties will be at 60% even if you have better performing rentals.