Many Fairbanks landlords built their holdings one military lease at a time: a house in North Pole, a fourplex off Airport Way, a duplex near the university. By the fifth or sixth loan, juggling separate payments, renewals and insurance renewals starts to cost real time.
In short: LendingStreet's blanket portfolio loan puts five or more Fairbanks-area rentals, each with 1 to 8 units, under one DSCR loan with one closing and one payment. The loan qualifies on the portfolio's combined rent, with no W-2s or tax returns, and release provisions let you sell one property without refinancing the rest. LLC borrowers are standard and portfolio pricing applies.
Fairbanks rental demand is anchored by Fort Wainwright, Eielson Air Force Base and the University of Alaska Fairbanks, plus the hospital, the borough and the state. Investors tend to stack properties that serve those tenants. North Pole and the Badger Road area draw Eielson families. Hamilton Acres, Lemeta, South Fairbanks and the Aurora subdivision have older homes and small multifamily close to Fort Wainwright and downtown. The College area and Farmers Loop serve university staff and graduate students.
Fairbanks also has a deep supply of fourplexes and small apartment buildings, many built during the pipeline years of the 1970s. Those buildings fit a blanket loan well because each one is a single property with several rents.
A blanket loan is secured by all of the properties at once. Instead of five separate notes with five closings, appraisals and payment dates, you have one note, one closing and one monthly payment. Each property still needs a valuation, and each one has an allocated share of the loan for release purposes.
Properties can be single-family homes, condos, duplexes, triplexes, fourplexes or buildings up to 8 units. On some programs, properties in more than one state can go into the same loan, which helps if you also own rentals in Anchorage's market or in the Lower 48.
This example is illustrative and not a quote. An investor refinances six properties into one loan: three North Pole single-family homes worth $310,000 each, a College-area duplex worth $380,000 and two South Fairbanks fourplexes worth $520,000 each. The combined value is $2,350,000 and the combined rent is $19,900 a month.
At 70% of value the blanket loan is $1,645,000. Estimated principal and interest is about $11,222. Property taxes across the portfolio are budgeted at $2,900 a month and insurance at $1,100, for a total payment of about $15,222. The portfolio DSCR is about 1.31x.
| Property | Count | Value each | Monthly rent each |
|---|---|---|---|
| North Pole single-family homes | 3 | $310,000 | $2,300 |
| College-area duplex near UAF | 1 | $380,000 | $3,000 |
| South Fairbanks fourplexes | 2 | $520,000 | $5,000 |
| Portfolio total | 6 | $2,350,000 | $19,900 |
Fairbanks rents move with military assignment cycles. A house in North Pole can sit empty for a few weeks in a summer move season while a College-area duplex stays full. On individual loans, each property has to clear the ratio by itself. On a blanket loan, the strong properties help carry the weaker one, because the ratio is measured across the whole portfolio.
That does not mean a weak property is free. Underwriters still review every lease, rent estimate and valuation, and a property with deferred maintenance or high vacancy can lower the total loan amount.
Most blanket loans include a release clause. When you sell one property, part of the sale proceeds pays down the loan, and that property comes off the lien while the rest stay in place. In the example above, each North Pole house carries an allocated loan amount of about $217,000. The release price is set in the loan documents and is often higher than the allocated amount, so the remaining portfolio is not left with more risk.
Plan releases before you close. If you expect to sell the fourplexes in a few years, structure the allocations so the sale leaves enough coverage on the homes you keep.
Property tax in the Fairbanks North Star Borough is levied by the borough, with an added city levy inside the City of Fairbanks and the City of North Pole, so identical homes can carry different bills depending on which side of a city line they sit. Alaska has no state income tax or statewide sales tax and no real estate transfer tax, but local taxes still go into the ratio.
Insurers will ask about heating systems, roof condition and freeze protection. Older fourplexes with fuel oil boilers, and homes outside the city on wells and septic, can take extra time to underwrite. Have recent inspection notes ready.
Flood zones matter too. Parts of Fairbanks near the Chena River and in low-lying areas sit in mapped flood zones, where flood insurance is generally required, and that premium goes into the portfolio payment.
A blanket loan is usually best when you want one payment, portfolio pricing and the ability to lean on stronger properties. Separate DSCR loans can make more sense if you plan to sell several properties soon or want each one free of the others. Our comparison of blanket loans and individual DSCR loans goes through the trade-offs.
| Question | Blanket loan | Separate DSCR loans |
|---|---|---|
| Number of closings | One | One per property |
| How DSCR is measured | Across the portfolio | Property by property |
| Selling one property | Release price paid from sale | Pay off that loan only |
| Best fit | Holding 5+ rentals long term | Mixed plans or near-term sales |
Our investor loans are business-purpose loans on non-owner-occupied property. Send a list of addresses, current rents, leases and existing loan balances through the form below or call (877) 298-1001. We will run the portfolio ratio, flag any property that drags it down and suggest a structure. For statewide options, see our Alaska blanket portfolio loans page.
Five or more investment properties, each with 1 to 8 units. A mix of homes, duplexes and fourplexes is fine.
Yes. Properties anywhere in the borough can go into one loan, and some programs also allow properties in more than one state.
No. The ratio is measured on the combined rent and combined payment, though each property is still reviewed and a weak one can reduce the loan amount.
You pay the release price from the sale, that property comes off the loan, and the rest of the portfolio stays financed.
Usually not to an existing blanket loan. Many investors finance new purchases individually and roll them into a new blanket loan at a later refinance.
Yes, if the building is insurable and in reasonable condition. Expect questions about the heating system, its age and who pays for fuel.
No. Our investor loans are business-purpose loans on non-owner-occupied property, and every property in the portfolio must be a rental.
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