In Huntington, a landlord with eight houses may own less in total value than one rental in a coastal city. That is exactly why a blanket loan fits this market: one loan can reach a size that individual loans on $110,000 houses never could, and it keeps a scattered portfolio on one payment.
In short: LendingStreet's blanket portfolio loans combine five or more Huntington-area investment properties, each 1 to 8 units, into one loan with one closing and one payment. The loan qualifies on the portfolio's combined rent, with LLC borrowers standard and no W-2s or tax returns. Release provisions let you sell one property without refinancing the rest, and homes across the river in Ohio or Kentucky can be included on some programs.
Our DSCR loans start at $150,000. Many Huntington single-family rentals are worth $90,000 to $160,000, so a loan on one house at 70% or 75% of value often falls below the minimum. Five or more houses together easily clear it.
Combining also smooths cash flow. A vacancy on one Highlawn rental matters less when it is one of eight properties carrying a single payment. It also replaces a stack of small local loans with one maturity date.
Huntington portfolios are mostly older two-story frame houses and modest brick ranches. Investors tend to buy where tenants are steady and repairs are manageable.
The Southside, around Ritter Park and toward Marshall, mixes long-term family tenants with university staff. Highlawn and the area east of campus lean toward students and young workers. The West End, Westmoreland and Guyandotte offer lower prices with more repair risk. Walnut Hills and Spring Hill hold slightly newer homes, and suburbs such as Barboursville, Milton, Kenova and Ceredo add more conventional single-family stock.
This example is illustrative and not a quote. An investor owns eight single-family rentals worth about $1,017,000 combined, renting for $8,975 a month, including one across the river in Chesapeake, Ohio. A blanket refinance at 70% of value produces a loan of $711,900.
Estimated principal and interest is about $4,953. Taxes across all eight homes are budgeted at about $1,186 a month and insurance at $760, for a total of about $6,899. Portfolio DSCR is about 1.30x.
On their own, most of these houses would need loans well under $150,000. Together, they support one loan with room to spare.
| Property area | Estimated value | Monthly rent |
|---|---|---|
| Southside | $129,000 | $1,150 |
| Highlawn | $118,000 | $1,050 |
| West End | $105,000 | $975 |
| Guyandotte | $112,000 | $1,000 |
| Walnut Hills | $142,000 | $1,250 |
| Barboursville | $151,000 | $1,300 |
| Kenova | $124,000 | $1,100 |
| Chesapeake, OH | $136,000 | $1,150 |
| Total | $1,017,000 | $8,975 |
West Virginia assesses real property at a 60% assessment ratio, and the levy rate depends on the property's class. Owner-occupied homes are taxed at the lowest residential rate. Rentals are taxed at higher rates, and rentals inside a city such as Huntington generally fall in a higher class than rentals outside city limits. Confirm each property's class with the Cabell or Wayne County Assessor.
City fees billed to property owners can add to the carrying cost, so include them when you build the portfolio budget. For homes in Ohio or Kentucky, use that county's tax bill.
Huntington landlords often own homes in Chesapeake, Proctorville and Ironton, Ohio, or in Ashland and Catlettsburg, Kentucky. On some programs, properties in more than one state can sit in one blanket loan. Each state has its own closing process and title requirements, so a multi-state blanket can take a little longer to document. See our multi-state portfolio loans page.
Release provisions let you sell one property and pay down the blanket loan without touching the others. The release terms, including how much of the sale proceeds goes to the loan, are set when the loan closes.
In the example, selling the West End house worth about $105,000 would leave seven homes worth about $912,000 renting for $8,000. After the release paydown, the remaining homes still need to support the loan, so plan sales around your strongest and weakest properties. Our blanket loan release clause guide explains the details.
Much of Huntington's rental stock was built before 1950. Appraisers will note roofs, foundations, wiring and basement water. Homes near the river, Fourpole Creek or the Guyandotte may need flood insurance. A single landlord policy covering every property keeps renewals together and makes the file easier to review.
If the city's rental registration or inspection rules apply to your properties, keep records current; it makes underwriting smoother. The same goes for leases: a current rent roll with move-in dates helps.
Many Huntington landlords own their houses free and clear or nearly so, having bought them years ago for cash. A cash-out blanket refinance can turn that equity into funds for the next purchase or for repairs across the portfolio. Cash-out goes up to 75% LTV, and the combined rent must still clear the program minimum at the new payment. Cash-out seasoning varies by program; see our seasoning guide.
Because the loan is sized on value, recent repairs that raise appraised values, such as new roofs, updated kitchens or finished basements, can increase what the portfolio supports. Keep invoices and photos for each property.
In Huntington, individual DSCR loans mainly work on higher-priced homes or small multi-unit buildings that clear the $150,000 minimum on their own. For a group of typical single-family rentals, a blanket is usually the practical choice. Our comparison of blanket and individual DSCR loans covers the trade-offs.
Send a property schedule with addresses, values, rents and current loan balances through the form below, or call (877) 298-1001.
Five or more investment properties, each with 1 to 8 units.
Yes. That is a common reason to use a blanket here, since one loan across several houses clears the $150,000 minimum.
On some programs, yes. Properties in more than one state can be combined in one blanket loan.
On the portfolio's combined rent compared with the full payment, including each property's taxes and insurance. The standard minimum DSCR is 1.0x.
Yes. Release provisions let you sell a property and pay down the loan without refinancing the rest.
Generally yes. West Virginia taxes non-owner-occupied property at higher rates than owner-occupied homes. Check each property's class with the assessor.
Yes, up to 75% LTV, if the portfolio still clears the program minimum at the new payment. Seasoning varies by program.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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