• sales@directmoneylenders.com
  • 800-838-1889

Blanket Mortgages

Blanket Mortgages for Rental Homes

Traditional underwriting in most areas of the country with a rental market.  5/30 – 10/30 fixed rates for residential investors that are looking to grow their rental business by acquiring more rentals, refinance existing debt, cash out to buy more.

We work with investors with as little as 1 rental home and also work with groups that are nearing 3,000 single family homes for rent.  We have many years of experience to help you obtain your landlord financing objectives.

Rates change often however, our fixed rates are ranging between 5.5% – 7.5%.  Some variables to the rates include:

  • LTV – Up to 75% of the value
  • Seasoning of ownership (We have very little seasoning requirements)
  • Type of collateral – 1 – 4 unit – 5+ can be found here
  • Credit score – Min 620
  • Zip code – Most areas of the USA are considered
  • Cash flow – 1.2x DSCR is preferred
  • Experience – 1 year is preferred – or Professional Manager
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Investment property (1-4 unit) Blanket loan chart for 2017

Term Type Index Prepay period Recourse Max LTV Min. DSCR Amort.
5 years Fixed 5-year Swap Rate YM – Declining Non-recourse 65 – 70% 1.15 I/O – 30
5 years Fixed 5-year Swap Rate YM – Declining Full recourse 75% 1.15 30
10 years Fixed 10-year Swap Rate YM – Declining Non-recourse 65 – 70% 1.15 I/O – 30
10 years Fixed 10-year Swap Rate YM – Declining Full recourse 75% 1.15 30

Security:

  • $500,000 to $20,000,000+
  • 5 and 10 year fixed rates
  • First Mortgage Lien plus equity pledge of sponsor
  • Underwriting the cash flow of the pool of properties
  • NO Borrower DTI requirements
  • NO limit to cash out
  • 30 year amortization
  • Groups of 1 to 4 single family rental properties, town homes, condominiums and select 5+ multifamily
  • Cross collateralize first mortgage
  • Approved LLC or other commercial entity
  • Up to 75% of appraised value
  • 30 year amortization
  • Competitive market pricing
  • Non-recourse to key principals except for customary bad act carveouts
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