A lot of New Hampshire rental income comes from older multifamily: triple-deckers and mill-era two- and three-families in Manchester and Nashua, plus small buildings in Concord, Dover and Rochester. Investors with five or more of them can consolidate under one blanket loan.
In short: Yes, LendingStreet finances blanket portfolio loans in New Hampshire for investors with five or more rental properties, each with 1 to 8 units, under one loan qualified on the portfolio's combined rent. New Hampshire has no broad income or sales tax, so local property taxes are high and usually the biggest expense on each property, and the state transfer tax is split between buyer and seller.
A blanket portfolio loan puts five or more investment properties, each with 1 to 8 units, under one mortgage. Instead of separate notes, escrow accounts and due dates, you have one closing, one payment and one set of loan documents. Pricing is set for the whole portfolio.
Underwriting looks at the portfolio's combined cash flow: total rent against total principal, interest, taxes, insurance and any HOA dues. A weaker property can be carried by stronger ones, as long as the combined ratio clears the program minimum, which is 1.0x on standard programs. Loans start at $150,000 with no stated maximum, and max LTV varies by program and portfolio size.
Manchester and Nashua hold the densest rental stock in the state, much of it two- to four-unit buildings and some 5-8 unit buildings dating to the mill era, which makes per-unit prices lower than in single-family neighborhoods. Concord adds state-government renters, and the Seacoast around Portsmouth, Dover and Rochester draws tenants commuting toward the Boston area and the Portsmouth Naval Shipyard.
Keene, Laconia and the Lakes Region have smaller tenant pools and more seasonal demand. Because so much of New Hampshire's stock is older multifamily, a blanket loan here often holds fewer properties but more units than a Sun Belt portfolio of the same size, and each building is underwritten on the combined rent of all its units.
This example is illustrative and not a quote. An investor owns two Manchester three-families, a Manchester duplex, a Nashua duplex and a Concord single-family rental. Together the five properties are worth about $2,260,000, rent for $17,950 a month and carry about $4,930 a month in taxes and insurance.
At 65% of combined value, the blanket loan is about $1,469,000. Estimated principal and interest on a 30-year schedule is about $10,271 a month, so the total monthly obligation is about $15,201 and the portfolio DSCR is about 1.18x, above the 1.0x standard minimum. On its own, the Concord SFR would carry an allocated balance of about $247,000 and a ratio of about 0.98x; inside the blanket, the stronger properties help carry it. Property taxes are the heaviest part of the taxes-and-insurance column, which is typical for New Hampshire.
| Property | Value | Monthly rent | Taxes + insurance / mo |
|---|---|---|---|
| Manchester three-family | $520,000 | $4,500 | $1,150 |
| Manchester three-family | $495,000 | $4,350 | $1,100 |
| Manchester duplex | $410,000 | $3,200 | $900 |
| Nashua duplex | $455,000 | $3,400 | $960 |
| Concord SFR | $380,000 | $2,500 | $820 |
| Portfolio total | $2,260,000 | $17,950 | $4,930 |
New Hampshire towns and cities fund themselves largely through property tax, so rates are among the highest in the country, and they vary widely from one municipality to the next. Each municipality must revalue property at least every five years, which can move a bill sharply in a revaluation year. Use the current bill for every property and ask whether a revaluation is coming.
The state real estate transfer tax is charged on both buyer and seller, which affects acquisitions and any deed transfers into an LLC. On insurance, older wood-frame multifamily may need updated electrical, heating or roof work before a carrier will write it, and rural properties on wells and septic may need extra review. Pre-1978 buildings also bring lead paint disclosure duties.
Selling a rental out of a blanket loan is handled through a partial release. The loan documents assign each property a share of the balance and set a release price, typically above that share, that you pay down when the property sells. The rest of the portfolio stays in place under the same loan.
Plan releases with the remaining portfolio in mind. If you sell the property with the best rent-to-value, the remaining ratio drops, so it helps to model the portfolio after the sale before you list the property.
New Hampshire generally requires a landlord to have a lawful reason listed in state law to end most residential tenancies, rather than simply letting a lease lapse. There is no rent control. Keep leases and rent rolls clean and consistent, since those are what underwriting relies on to size the loan.
Short-term rentals are regulated town by town through zoning, and lake and mountain towns have taken different approaches. New Hampshire also requires operators to collect the state meals and rooms tax on short stays. If any property in the portfolio relies on nightly income, check that town's rules before including that revenue.
The case for a blanket loan is simplicity and coverage: one payment, one set of documents, and a combined ratio that lets a lower-performing house ride along with stronger ones. It suits investors who want to stop managing a dozen separate loans.
The case for individual loans is flexibility. Each property can be sold or refinanced on its own without a release price, and a problem with one loan does not touch the others. If you expect to sell several properties in the next few years, keep them out of the blanket.
A complete package keeps the appraisals and underwriting moving. Call (877) 298-1001 or use the form below to get a quote on your New Hampshire portfolio.
Yes. LendingStreet finances blanket portfolio loans on non-owner-occupied investment property in New Hampshire, from $150,000 with no stated maximum. Our investor loans are business-purpose loans on non-owner-occupied property.
The state real estate transfer tax is charged on both the buyer and the seller. Ask your title company how it applies to purchases or deed transfers into an LLC.
Yes. Each property can have 1 to 8 units, so two-, three- and four-family buildings, and buildings up to 8 units, all fit.
Yes, five or more properties. Each can be a single-family home, condo, townhome or a building with up to 8 units.
Often, yes. The coverage test is done on the whole portfolio, so stronger properties can offset a weaker one as long as the combined ratio clears the minimum.
The minimum is 620. No W-2s, pay stubs or tax returns are needed because the loan qualifies on rent.
Some programs allow properties in more than one state under one blanket loan. Each property is still appraised and recorded in its own county.
They can raise property tax, which lowers the combined ratio. Use current bills and ask the town whether a revaluation is scheduled.
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