Augusta is a market where a lot of good rentals cost less than $150,000. That is great for cash flow and awkward for financing, because many DSCR loans start at that amount. Grouping five or more homes into one blanket loan solves the problem and leaves you with one payment.
In short: LendingStreet offers blanket portfolio loans that put five or more Augusta-area rentals, each 1 to 8 units, under one loan with one closing and one payment. The loan qualifies on the portfolio's combined rent against its combined payment, the $150,000 minimum applies to the total rather than to each home, and release provisions let you sell a single property later. Pricing is set for the portfolio.
Inside Augusta-Richmond County, investors build portfolios in Harrisburg, Turpin Hill, the Laney-Walker and Bethlehem areas, Summerville's edges, south Augusta and Hephzibah, where brick ranches and older frame homes sell well below metro averages. Many of these homes rent to working families, hospital staff and military households.
In Columbia County, Martinez, Evans and Grovetown carry higher prices and newer homes, usually with lower repair costs and HOA rules to check. Across the river, North Augusta and the Aiken area add South Carolina rentals to the mix.
An individual DSCR loan starts at $150,000. In Augusta, a lot of solid rentals are worth $110,000 to $180,000, which leaves many of them too small to finance alone at a reasonable LTV. In a blanket, the minimum applies to the total loan, so nine homes worth an average of $155,000 make a loan of nearly $1M.
That also means you can refinance a group of homes you bought for cash or with short-term money and pull them onto one long-term loan.
Many Augusta landlords built their holdings by paying cash for inexpensive homes over many years. A blanket refinance can turn that equity into funds for the next purchase while keeping every home on a single 30-year loan, subject to the program's cash-out limits and the portfolio clearing 1.0x after the new payment.
Fort Gordon, the home of the Army's Cyber Center of Excellence and a large signal and cyber workforce, keeps rental demand steady in Grovetown, Hephzibah and west Augusta. Military tenants often receive a housing allowance, which helps rent reliability, though orders can mean moves on short notice.
The medical district downtown, including Augusta University and Wellstar MCG, Piedmont Augusta and the VA, supports demand in Summerville, Harrisburg and the neighborhoods near the Calhoun Expressway. Savannah River Site contractors add to demand on both sides of the river.
This example is illustrative and not a quote. An investor owns nine single-family rentals in Harrisburg, Hephzibah, Grovetown and Martinez valued at $1,395,000 together, an average of about $155,000 each. Rents total $12,150 a month. Taxes for all nine are $1,050 a month and insurance is $990.
At 70% LTV the blanket loan is $976,500. Estimated principal and interest on a 30-year term is about $6,661, for a total payment of about $8,701. Portfolio DSCR is about 1.40x. Several of these homes would be below the $150,000 minimum as stand-alone loans, but together they qualify easily.
| Item | Nine-home portfolio |
|---|---|
| Combined value | $1,395,000 |
| Loan at 70% LTV | $976,500 |
| Estimated principal and interest | $6,661 |
| Taxes | $1,050 |
| Insurance | $990 |
| Total monthly payment | $8,701 |
| Combined rent | $12,150 |
| Portfolio DSCR | 1.40x |
Release provisions spell out how much of the loan you pay down to remove one property. The release price is usually a percentage above the property's allocated loan amount, and the remaining homes must still meet the DSCR standard after the release. That protects the portfolio and keeps the loan in good standing.
Release prices are designed so that each sale pays down more than that home's share of the loan, which steadily lowers the leverage on the homes that remain.
If you expect to sell several homes over the next few years, tell us up front so the release terms fit your plan. More on this at /blanket-loan-release-clause.html.
Many Augusta investors own homes in North Augusta, Aiken, Belvedere or Clearwater on the South Carolina side. Some programs can include properties in more than one state in a single loan. See /multi-state-portfolio-loans.html. Each state has its own closing process: Georgia uses closing attorneys and charges an intangible recording tax on long-term notes, while South Carolina also requires an attorney and has its own deed recording fee.
Much of Augusta's affordable rental stock dates from the 1940s to the 1970s. Insurers will ask about roof age, electrical panels, plumbing material and heating systems, and some will not write older homes with outdated wiring. Get insurance quotes for the whole portfolio early, since a single hard-to-insure house can hold up the closing.
A blanket fits long-term holds. If you plan to flip some of the homes or one property needs major rehab, keep those out of the blanket and finance them separately. The comparison at /blanket-loan-vs-individual-dscr-loans.html walks through the trade-offs.
Think about cross-collateral too. In a blanket, all the homes secure one loan, which is what makes portfolio DSCR and the lower minimum possible. The flip side is that the properties are tied together until you release them. Investors who value flexibility above simplicity sometimes keep a few homes on separate loans.
Timing matters for military-heavy portfolios. Permanent change of station moves cluster in summer, so a refinance in late summer, after new leases are signed, often shows the strongest rent roll.
Our investor loans are business-purpose loans on non-owner-occupied property. Send a rent roll with addresses, leases, rents, tax bills and current loan balances, and we will size the blanket at a few leverage levels. Call (877) 298-1001 or use the form below.
Yes. The minimum applies to the total loan, so lower-priced Augusta homes can be grouped.
Five or more investment properties, each with 1 to 8 units.
Yes. Leases with military tenants count like any other lease.
On some programs, yes. Multi-state portfolios are reviewed case by case.
The standard minimum is 1.0x on combined rent and payment. Sub-1.0 programs exist for some situations.
Yes, through the release provision in the loan documents.
Yes, if it has 1 to 8 units. Buildings with nine or more units are commercial.
No. The loan qualifies on the properties' rent.
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