Lansing is a market where the numbers favor scale. Houses are modestly priced, rents are steady thanks to state government, the university, hospitals and auto plants, and many investors own eight or ten homes. Individually, many of those homes are too small for an efficient loan. Together, they make a strong portfolio.
In short: LendingStreet offers blanket portfolio loans that put five or more Lansing-area investment properties, each with 1 to 8 units, under one loan qualified on the portfolio's combined cash flow, with one closing, one payment and portfolio pricing. Release provisions let you sell a single home later, and properties elsewhere in Michigan, or in other states on some programs, can be included. No W-2s or tax returns are needed.
Inside the city, investors buy older single-family homes and two-flats on the Eastside near Frandor and the Michigan Avenue corridor, on the Westside and in Old Town and REO Town where revitalization has lifted rents. South Lansing offers 1950s and 1960s ranches at lower prices and steady family demand.
Outside the city, Holt and the rest of Delhi Township, Delta Township, Lansing Township and Mason offer newer homes with lower tax rates than the city. Near Michigan State, rentals that comply with local licensing rules can command strong rent, while Okemos and Haslett draw families who want to be in those school districts and close to the university.
| Submarket | Typical rental | What to check |
|---|---|---|
| Lansing Eastside and Old Town | Older single-family homes, two-flats | City rental registration and inspection |
| South Lansing | 1950s-60s ranches | Basements, roofs, sewer laterals |
| Holt and Delta Township | Newer single-family homes | Township taxes, HOA rules in newer subdivisions |
| MSU-area rentals | Student and staff housing | Rental license and occupancy limits |
| Mason and DeWitt | Small-town single-family homes | Distance to jobs, appraisal comps |
A blanket loan adds up the rent from every property and divides it by the single combined payment: principal and interest plus every property's taxes and insurance. A city house with a high millage rate or a recent vacancy can be carried by township homes with lower bills, so long as the group clears the program minimum.
That is especially useful in Lansing, where the city's millage is higher than many surrounding townships. Blending the two lets the portfolio qualify on its overall performance.
This example is illustrative and not a quote. An investor owns three Eastside homes, two South Lansing ranches, two Holt houses and one duplex near campus, eight properties with nine units. Combined value is $1,520,000 and combined rent is $13,900 a month. Taxes total about $3,360 a month and insurance about $920.
At 70% of value the blanket loan is $1,064,000. Estimated principal and interest is about $7,440, making the total payment about $11,720 and portfolio DSCR about 1.19x. Eight small loans, several of which would fall under the $150,000 minimum on their own, become one.
| Item | Amount |
|---|---|
| Properties | 8 (9 units) |
| Combined value | $1,520,000 |
| Blanket loan at 70% | $1,064,000 |
| Estimated principal and interest | $7,440 |
| Taxes, all properties | $3,360 |
| Insurance, all properties | $920 |
| Total monthly payment | $11,720 |
| Combined monthly rent | $13,900 |
| Portfolio DSCR | About 1.19x |
Michigan's cap on taxable value comes off when a property is sold or transferred, but a refinance is not a sale. If you have held your Lansing homes for years, their capped taxable values stay in place after a blanket refinance, which helps the portfolio DSCR.
Be careful with entity transfers. Moving properties into a new LLC can count as a transfer of ownership under Michigan law and uncap the taxable value. Get tax advice before you restructure ownership for a new loan.
Each property is assigned a share of the blanket balance. To sell one, you pay a release amount set in your loan documents, often somewhat above that allocated share so the rest of the portfolio stays strong. Terms vary by program; see /blanket-loan-release-clause.html.
Michigan's state and county transfer taxes are customarily paid by the seller, so budget for them when you plan a sale out of the portfolio.
Rentals in the City of Lansing must be registered and inspected, and East Lansing requires rental licenses. A refinance goes more smoothly when every property has a current certificate or license and no open code items.
Investors who bought Lansing homes at low prices a decade ago often hold substantial equity spread thinly across many properties. A blanket cash-out refinance can draw on the group at once, subject to leverage limits and seasoning rules (see /dscr-cash-out-refinance-seasoning.html). Proceeds can fund the next purchase or improvements across the portfolio.
Because the loan pays off several existing mortgages at once, gather payoff statements for each and check title for old liens, unpaid water bills or code liens that can attach to Lansing properties. Clearing those early avoids a delay at closing.
Separate DSCR loans keep each property independent and may suit you if you plan to sell several homes soon. A blanket loan is built for investors who plan to hold, want one payment and portfolio pricing, and own several homes too small for efficient individual loans. Compare the options at /blanket-loan-vs-individual-dscr-loans.html.
Our investor loans are business-purpose loans on non-owner-occupied property. Send a schedule with address, units, rent, value, loan balance, taxes and insurance for each property through the form below, or call (877) 298-1001. We will run the portfolio DSCR and show options alongside our Michigan blanket programs.
Five or more investment properties, each with 1 to 8 units. Single-family homes, two-flats and duplexes can be combined in the same loan.
Yes. The $150,000 minimum applies to the whole loan, not to each property, so homes worth less than that can be combined.
A refinance by itself is not a sale and does not uncap taxable value. Changing the ownership entity can, so get tax advice before moving properties between LLCs.
Yes. Lansing, East Lansing, Holt, Delta Township, Mason, DeWitt and other nearby homes can be in one loan, along with Michigan properties elsewhere, such as Grand Rapids or Detroit-area rentals, and other states on some programs.
The portfolio is tested as a whole, so a vacancy can be absorbed if the combined rent still clears the minimum. Vacant units are usually counted at market rent from the appraisal, though programs differ.
Yes. You pay the release amount set in the loan documents, and that property comes off the loan. Terms vary by program.
Current registrations and licenses support the file, and open code items can delay closing or require repairs before funding. Gather the certificates for every city property and the East Lansing licenses for any student rentals before you apply.
No. The loan is qualified on the portfolio's rent, not your personal income. The minimum credit score is 620, LLC borrowers are standard and you sign for the loan personally where the program requires it.
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