Many Casper rentals are worth less than the loan sizes that make separate financing efficient. Rolling five or more of them into one loan can mean one closing, one payment and one ratio for the whole group.
In short: LendingStreet offers blanket portfolio loans for investors who own five or more rentals in the Casper area, each with 1 to 8 units, qualified on the combined cash flow of the portfolio. You get one closing and one monthly payment, portfolio pricing and release provisions so you can sell a single house without refinancing the rest. No W-2s or tax returns are required, the minimum credit score is 620 and LLC borrowers are standard.
Casper's housing stock is full of modest single-family rentals: older bungalows in North Casper and around downtown, mid-century ranches on the east and west sides, and 1970s and 1980s houses built during past energy booms. Many sell for well under $300,000, and investors who have bought steadily for years often hold a dozen loans with different lenders, maturities and escrow accounts.
Because DSCR loans start at $150,000, a single low-priced house can be awkward to finance alone. In a blanket loan, the size of each house matters less than the combined value and rent.
Most local portfolios mix city neighborhoods with the small towns that ring Casper. Each area rents to a slightly different tenant, which helps spread vacancy risk.
Instead of testing each house on its own, the underwriter adds the rents from every property and compares them with the combined payment: principal and interest on the blanket loan plus taxes and insurance on every property. A house that runs slightly below 1.0x can be carried by stronger ones, as long as the portfolio as a whole meets the program's minimum.
Leverage is based on the combined value from appraisals on each property. Expect max LTV to vary by program and portfolio size.
This example is illustrative and not a quote. An investor refinances six free-and-clear or lightly financed houses worth $1,560,000 in total and renting for $10,200 a month combined. At 70% of value, the blanket loan is $1,092,000.
Estimated principal and interest is about $7,449 a month on a 30-year schedule. Taxes run about $1,020 and insurance about $720 for all six, so the combined payment is about $9,189 and the portfolio DSCR is about 1.11x.
| Area | Property | Value | Monthly rent |
|---|---|---|---|
| Mills | Ranch house | $235,000 | $1,500 |
| Bar Nunn | Newer single-family | $310,000 | $1,850 |
| North Casper | Bungalow | $205,000 | $1,350 |
| East side near Eastridge | Split-level | $260,000 | $1,650 |
| Paradise Valley | Ranch house | $300,000 | $1,800 |
| Evansville | Single-family | $250,000 | $2,050 |
| Total | 6 houses | $1,560,000 | $10,200 |
Release provisions let you sell one house and pay down the blanket by an agreed amount, often a set percentage of that property's allocated loan amount, without disturbing the rest. The remaining portfolio usually has to keep meeting the ratio after the release.
In Casper, where investors often sell older houses to owner-occupants in strong years, the release terms matter as much as the starting leverage. Read our release clause guide before you sign.
Wyoming uses a 9.5% assessment ratio for residential property and has no state income tax and no transfer tax, so taxes rarely sink a Casper portfolio. Natrona County mill levies differ between Casper, Mills, Evansville and Bar Nunn, so pull each property's actual bill rather than applying one figure to the whole schedule. Insurance is the bigger swing: wind and hail claims are common, and older roofs can raise premiums or deductibles across several houses at once.
Wyoming is a non-disclosure state, so appraisers lean on MLS and agent data. On a six-house portfolio, one low appraisal can change the loan amount, so order appraisals early and have rent rolls and leases organized.
Separate loans keep each property independent and can be simpler if you plan to sell several soon. A blanket loan trades some of that flexibility for one payment, one maturity and portfolio pricing. Investors growing past five or six Casper houses often find the blanket easier to manage. Our comparison page covers the tradeoffs in more detail.
A practical middle path some Casper owners use: keep the two or three houses they expect to sell in the next year or two on separate loans, and put the long-term holds into the blanket. That keeps release payments to a minimum and leaves the core portfolio on one schedule. If you are still acquiring, a bridge loan can buy the next package and a later refinance can fold it into the blanket once rents are stabilized.
Expect the review to look at each property as well as the total. Appraisers visit every house, the underwriter checks each lease against market rent, and title work runs on every parcel. Properties in Mills, Evansville and Bar Nunn are in separate towns, so utility and permit records come from different offices. Starting the paperwork early keeps a six- or eight-property closing on schedule.
Send a schedule of properties with addresses, estimated values, current rents, existing loan balances, taxes and insurance. LendingStreet will size the loan on combined cash flow and outline release terms. Our investor loans are business-purpose loans on non-owner-occupied property. Call (877) 298-1001 or use the form below.
If some of your rentals are in Cheyenne, Gillette or another state, some programs can combine properties across markets.
Five or more investment properties, each with 1 to 8 units. They can be a mix of houses, duplexes and small multi-unit buildings.
Yes. Those towns sit just outside Casper, and properties there can go in the same portfolio as homes inside city limits.
Portfolio DSCR looks at combined rent against the combined payment, so a weaker house can be offset by stronger ones as long as the total meets the minimum.
Yes. Release provisions let you pay down the loan by an agreed amount and sell one property while the rest stay financed.
It can. Sale prices are not public, so appraisers rely on MLS and their own data, and rural or unusual homes may have fewer comparables.
No. The loan qualifies on property cash flow. A 620 credit score, reserves and organized leases matter more.
On some programs, properties can be in more than one market or state. Tell us where each property is when you request a quote.
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