
Overview
A blanket mortgage loan is a type of mortgage that covers multiple properties under a single mortgage agreement. Instead of securing financing for each individual property separately, a blanket mortgage allows a borrower to use multiple properties as collateral for a single loan.
Multiple Properties Covered
With a blanket mortgage, a borrower can finance
up to 30 properties with a single loan.
Terms
Mixed transactions allowed (purchase, cash out) –1-4 residential units
allowed only for Experienced investors, property DSCR minimum 1.00
Loan Limits
Loan limits are set by the investor – in this case minimum loan amount
is $400,000 and maximum loan amount is $3,000,000. Minimum Property loan
balance is $50,000 and maximum property loan balance is $1000,000.