Around Fort Bragg, landlords often build portfolios of modest homes and duplexes that rent to soldiers and their families. Each property may be small, but by the time you own eight of them, separate loans mean eight payments, eight escrow accounts and eight renewal headaches.
In short: LendingStreet's blanket portfolio loan combines five or more Fayetteville-area rentals, each with 1 to 8 units, into one DSCR loan with one closing, one payment and portfolio pricing. It qualifies on the portfolio's combined rent, with no W-2s or tax returns, and release provisions let you sell individual homes without refinancing the rest. LLC borrowers are standard and the minimum credit score is 620.
Most portfolios here are built around the gates. Spring Lake and the Yadkin Road and Bragg Boulevard corridors have older brick ranch homes and duplexes close to the base. West Fayetteville, around Cliffdale and Raeford roads, has 1970s through 1990s subdivisions popular with families. Hope Mills, Jack Britt and Gray's Creek to the south, Raeford and the Hoke County subdivisions to the west, and Cameron and Spout Springs in Harnett County to the north have newer homes that lease to officers and senior enlisted families.
Prices are moderate, so many single properties here sit near or below the $150,000 loan minimum on their own. A blanket loan solves that by financing them together, as long as the total loan meets the program size.
A blanket loan is secured by all of the properties at once. You close once and make one monthly payment. Each property is valued and given an allocated share of the loan for release purposes, and the loan is sized on the combined rent against the combined payment.
This example is illustrative and not a quote. An investor refinances five single-family homes in Spring Lake and Hope Mills worth $215,000 each and three duplexes off Yadkin Road worth $260,000 each. The portfolio is worth $1,855,000 and rents for $13,600 a month.
At 75% of value the blanket loan is $1,391,000. Estimated principal and interest is about $9,489. Property taxes are budgeted at about $1,855 a month and insurance at $850, for a total payment of about $12,194. The portfolio DSCR is about 1.12x.
| Property | Count | Value each | Monthly rent each |
|---|---|---|---|
| Spring Lake and Hope Mills single-family homes | 5 | $215,000 | $1,550 |
| Duplexes off Yadkin Road | 3 | $260,000 | $1,950 |
| Portfolio total | 8 | $1,855,000 | $13,600 |
Military leases turn over on the Army's schedule. Many tenants move in the summer moving season, and the Servicemembers Civil Relief Act lets service members end a lease early when they receive orders. That means a single-property loan can swing from strong to weak in a month. Measuring DSCR across eight properties smooths out those swings, because it is rare for every home to turn at once.
Underwriters still look at each lease and each rent estimate, so keep a clean rent roll that shows move-in dates, lease terms and any military clauses.
Some investors also stagger lease end dates on purpose, so that turns spread across the year instead of landing in the same summer weeks. A rent roll with staggered dates and steady occupancy reads well to an underwriter and makes the portfolio easier to manage.
North Carolina property taxes combine a county rate and, inside city limits, a city rate, so a home in Fayetteville city limits pays more than a similar home in unincorporated Cumberland County. Counties reappraise on a regular cycle, and a revaluation can move a whole portfolio's tax bill at once. If your portfolio spans Cumberland, Hoke and Harnett counties, check each county's rate and its next revaluation date.
North Carolina's excise tax on deeds is $1 per $500 of value, paid on transfers. On a refinance there is no deed transfer, so your main closing costs are title, recording and valuations.
| County | Common investor areas | Tax note |
|---|---|---|
| Cumberland | Fayetteville, Spring Lake, Hope Mills | City rate added inside city limits |
| Hoke | Raeford and western subdivisions | Separate county rate and revaluation cycle |
| Harnett | Cameron, Spout Springs, Lillington | Separate county rate and revaluation cycle |
When you sell one property, the release price comes out of the sale proceeds and that home comes off the lien. The release price is set in the loan documents and is usually above that property's allocated loan amount. Newer homes in Hope Mills and Raeford often sell well to incoming military buyers using VA loans, so investors sometimes plan to release those first and hold the duplexes long term.
Before closing, decide which homes you are likely to sell in the next few years and check that the remaining properties would still cover the payment without them. Allocations can be set with that plan in mind, which makes later releases smoother.
Fayetteville is inland, but Hurricanes Matthew and Florence brought serious flooding along the Cape Fear River and creeks such as Cross Creek and Little Rockfish Creek. Pull a flood determination for every property in the portfolio. A required flood policy on one home adds to the combined payment, and a property with past flood damage can take longer to underwrite.
A blanket loan fits investors who plan to hold most of their homes and want one payment. Separate DSCR loans can make more sense for properties you plan to sell soon. Some investors keep the core of the portfolio in a blanket loan and finance new purchases individually, then roll them into the next blanket refinance. On some programs, properties in other states can join the same loan, which helps military investors who own rentals near previous duty stations.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the property list, rents, leases and current loan balances through the form below or call (877) 298-1001. We will run the portfolio ratio and suggest a structure. Statewide information is on our North Carolina blanket portfolio loans page.
Yes. Each home does not need to meet the $150,000 minimum on its own; the total loan needs to meet the program size.
Five or more investment properties, each with 1 to 8 units.
Turnover is normal around Fort Bragg. Portfolio DSCR smooths it out, but underwriters still review each lease and rent estimate.
Yes. Any mix of rentals in the region can be included, and some programs allow properties in other states.
You pay the release price from the sale, the house comes off the loan and the rest stay financed.
On some programs, yes. Multi-state portfolios are available.
No. Our investor loans are business-purpose loans on non-owner-occupied property, so every property must be a rental.
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