Columbus has been one of the fastest-growing metros in the Midwest, and its rental investors have grown with it. A typical local portfolio mixes single-family houses on the Hilltop, in Linden and in the suburbs with a few of the side-by-side doubles that Columbus is known for.
In short: LendingStreet offers blanket portfolio loans for Columbus-area investors with five or more rentals, each 1-8 units, under one loan qualified on the combined cash flow of the portfolio. You get one closing, one payment, portfolio pricing and release provisions for selling individual properties. LLC borrowers are standard and no W-2s or tax returns are required.
On the west side, the Hilltop and Franklinton have older single-family homes and doubles at entry-level prices. North and northeast, Linden, North Linden and Milo-Grogan offer similar stock with ongoing reinvestment. Near campus, Old North Columbus and the University District are dense with doubles that rent to students and young workers, while the South Side, including Merion Village and the blocks around Parsons Avenue, has brick doubles that rent to working households and downtown employees.
Suburban rentals in Whitehall, Reynoldsburg, Groveport, Grove City, Westerville and Hilliard round out many portfolios with newer three-bedroom homes on longer family leases. Job growth from the data centers around New Albany and the planned Intel plant in Licking County has drawn investor interest east of the city, though that project's timeline has shifted.
Many investors also hold a few houses in Delaware, Licking or Pickaway counties alongside their Franklin County rentals. Those can go into the same blanket as long as each property meets program rules, and including stronger suburban rents can help balance older city houses.
Instead of testing each house, the lender adds up all the rent and compares it with the single blanket payment plus taxes and insurance for every property. A Hilltop house that is slightly below 1.0x on its own can be carried by a strong double, as long as the whole group clears the program minimum. Doubles are especially helpful here: two rents on one tax bill tend to lift the portfolio.
Rents are usually taken from current leases, with market rent used for vacant units. Student doubles leased by the bedroom are added up to a property total and checked against whole-unit market rent. Provide a rent roll with lease start and end dates for every unit so the lender can see when turnover clusters, which near campus is usually August.
This example is illustrative and not a quote. An investor refinances six rentals, four single-family homes and two doubles, into one blanket loan at 65% of combined value. Together they are worth $1,565,000 and rent for $12,150 a month.
| Property | Value | Monthly rent | Monthly taxes |
|---|---|---|---|
| Hilltop single-family | $235,000 | $1,750 | $390 |
| Old North double | $285,000 | $2,350 | $470 |
| Linden ranch | $210,000 | $1,650 | $350 |
| South Side double | $330,000 | $2,700 | $545 |
| Westerville split-level | $260,000 | $1,900 | $430 |
| Whitehall ranch | $245,000 | $1,800 | $405 |
| Total | $1,565,000 | $12,150 | $2,590 |
The blanket loan is $1,017,250. Estimated principal and interest is $7,113, combined taxes are $2,590 a month and combined insurance is $740. The total payment is $10,443 and portfolio DSCR is about 1.16x.
Taxes are the line that grew most for Columbus landlords after the 2023 reappraisal, and in this example they are about a third of principal and interest. That is why the example uses 65% leverage. Pull each parcel's current bill from the Franklin County Auditor rather than relying on old escrow figures.
Notice too that the two doubles carry the largest rents and the strongest rent-to-tax relationship in the group. The Hilltop and Linden houses are cheaper to buy but contribute less. A portfolio heavy in entry-level single-family homes may need lower leverage than one with several doubles.
Release provisions set the paydown required to take one property off the blanket, usually more than that property's share of the loan, and confirm the remaining properties still pass DSCR. Columbus investors often sell a single-family house to an owner-occupant when values rise, so think ahead about which houses might leave and confirm the release math before you close.
Ohio law requires owners of residential rental property to register with the county auditor, and Franklin County enforces it. Make sure every property in the portfolio is registered under the owning LLC. Ohio taxes property on 35% of appraised value, and Franklin County reappraises on a six-year cycle with an update in the third year, so values can move again before your loan matures.
County conveyance fees on deed transfers are charged per $1,000 of price and are customarily paid by the seller. When you move properties from your own name into an LLC before a blanket refinance, ask your title company whether an exemption applies.
A blanket loan simplifies payments, insurance and escrow, and lets equity across the group support a cash-out. Separate DSCR loans let each property stand alone, which can be easier if you plan to sell houses often. Separate loans also let you refinance one property without touching the others. Some programs also allow properties in more than one state, useful if you own in Cincinnati, Indianapolis or elsewhere.
Think about the maturity and rate structure too. Every property in a blanket shares the same terms, so a refinance of the whole group happens at once. If you expect to sell half the portfolio within a few years, individual loans or a smaller blanket may fit better.
Our investor loans are business-purpose loans on non-owner-occupied property. Send a rent roll with addresses, balances, current tax bills and estimated values, and we will test portfolio DSCR at a few leverage levels. The Ohio blanket loan page covers Cleveland, Cincinnati and the rest of the state; call (877) 298-1001 or use the form below.
At least five investment properties, each with 1 to 8 units.
Yes. Any 1-8 unit rental can go into the portfolio, and doubles often strengthen the combined DSCR.
Indirectly. Higher values raised many tax bills, which raises the payment used in the portfolio DSCR test.
Yes, through the release provision, with the remaining properties retested for DSCR.
Ohio law requires residential rental property to be registered with the county auditor.
Yes, subject to program LTV limits and the portfolio DSCR test. Seasoning varies by program.
Expect each property to be valued under the program's method.
No. Qualification is based on the portfolio's rental cash flow.
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