Many Colorado Springs portfolios were built one house at a time around Fort Carson, Peterson and Schriever, often with a different loan and servicer on every door. A blanket loan puts five or more of those rentals under one note, one payment and one maturity.
In short: LendingStreet offers blanket portfolio loans for Colorado Springs investors who own five or more rentals, each 1-8 units, qualified on the combined cash flow of the portfolio. You get one closing, one monthly payment and portfolio pricing, with release provisions so you can sell a single house without refinancing the rest. LLC borrowers are standard and no W-2s or tax returns are needed.
Military demand gives the southern and eastern parts of the city a deep pool of renters who move on orders every two to four years. Investors who bought steadily in Security-Widefield, Fountain, Stratmoor Hills, Cimarron Hills and the Powers corridor often end up with a stack of similar three- and four-bedroom homes at similar rents. That uniformity makes portfolio underwriting straightforward.
The north side, Briargate, Northgate and the newer Banning Lewis Ranch and Wolf Ranch areas, draws higher rents from Academy staff and defense contractors, while Old Colorado City, the Westside and the Hillside area offer older houses and small multi-unit buildings close to downtown. Mixing them in one portfolio can smooth out vacancy.
The other reason is paperwork. An investor with eight separate loans has eight escrow accounts, eight insurance renewals sent to eight servicers, and eight maturity or rate-reset dates to track. One blanket loan replaces that with a single statement, which matters more as a portfolio grows past a part-time job.
Instead of testing each house against its own payment, the lender adds up rent across all properties and compares it with the single blanket payment plus all taxes and insurance. A house that runs a little under 1.0x on its own can be carried by stronger properties in the group, as long as the portfolio clears the program minimum.
Rents are usually taken from current leases, with market rent used for vacant units. Have every lease and a rent roll ready, and expect each property to be valued.
Military leases often include a military clause that lets the tenant break the lease on orders. That is normal here and does not by itself disqualify the rent, but a portfolio with several leases ending in the same summer transfer season can look thinner on paper. Staggered lease dates make a cleaner file.
This example is illustrative and not a quote. An investor refinances six rentals into one blanket loan at 65% of combined value. The properties are worth $2,240,000 together and bring in $12,450 a month.
| Property | Value | Monthly rent |
|---|---|---|
| Security-Widefield ranch | $345,000 | $1,950 |
| Fountain split-level | $360,000 | $2,000 |
| Stratmoor Hills bungalow | $300,000 | $1,700 |
| Southeast duplex near Academy Blvd | $430,000 | $2,600 |
| Cimarron Hills two-story | $390,000 | $2,150 |
| Old Colorado City cottage | $415,000 | $2,050 |
| Total | $2,240,000 | $12,450 |
The blanket loan is $1,456,000. Estimated principal and interest is $10,181, combined property taxes are $770 a month and combined insurance is $925. The total payment is $11,876 and portfolio DSCR is about 1.05x.
Colorado's low residential assessment ratio keeps the tax line small here compared with Texas or South Carolina portfolios, but insurance is the line to watch. Hail claims along the Front Range have pushed premiums up, and a portfolio policy quote across all six addresses is worth getting before you apply.
In this example the weakest house, the Old Colorado City cottage, carries a higher value relative to its rent than the military-area homes. On its own it would be harder to finance at the same leverage; inside the portfolio it is carried by the stronger properties.
Release provisions spell out how a single property comes off the blanket. Typically you pay down the loan by a set amount tied to that property, often more than its share of the original balance, and the lender confirms that the remaining portfolio still meets the DSCR test. The exact release price and conditions are set in the loan documents, so read them before you close.
El Paso County reappraises in odd-numbered years, so a portfolio refinanced in an even year may see several tax bills move at once the next spring. Some newer east-side subdivisions also sit in metropolitan districts that add a mill levy to the bill; check each address. HOA leasing rules in newer communities matter too, especially where minimum lease terms apply.
Colorado has a very small state documentary fee on deeds, so transfer costs are modest when an LLC restructures ownership. Title and recording costs still apply per property.
Investors who own homes both in the city and in Teller County mountain towns can sometimes include them in one blanket, but mountain properties with wells, septic or acreage may need extra review. If a cabin is run as a short-term rental, ask how projected nightly revenue is treated in a portfolio, since that varies by program.
A blanket loan simplifies management and can free up equity across the whole group. Separate loans keep each property independent and can be easier to sell one at a time. Interest-rate and term choices apply to the whole blanket at once, which is simpler but less flexible. If you plan to trade houses often, or your properties are very different in value, compare both before deciding. Properties in more than one state can be combined on some programs.
Our investor loans are business-purpose loans on non-owner-occupied property. Send a rent roll with addresses, current loan balances and estimated values, and we will run portfolio DSCR at a few leverage levels. See the Colorado blanket loan page for statewide details, call (877) 298-1001 or use the form below.
Five or more investment properties, each with 1 to 8 units.
Yes. Properties across El Paso County, and in other areas, can be combined as long as each meets program rules.
Market rent is usually used for vacant units, but the portfolio still has to clear the program minimum DSCR.
Yes, through the release provision. You pay a set release amount and the remaining portfolio must still qualify.
Yes. Any mill levy on the tax bill is part of the payment used in DSCR.
Yes, subject to program LTV limits and the portfolio DSCR test. Cash-out seasoning varies by program.
Expect each property to be valued. The lender sets the method for the program.
No. Qualification is based on the portfolio's rental cash flow, not your personal income.
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