New Jersey portfolios are dense and diverse: two- and three-family homes in Newark, Paterson, Elizabeth and Jersey City, rowhomes in Camden and Trenton, and seasonal houses down the shore. Investors with five or more can move them under one blanket loan.
In short: LendingStreet offers New Jersey blanket loans that combine five or more investment properties of 1 to 8 units into one note, one closing and one payment, sized on combined rent rather than tax returns. New Jersey's property taxes are the highest in the country on average, so they weigh heavily on the combined ratio, and many towns layer on rent control and inspection rules.
With a blanket loan, every property in the package is pledged to a single note. That means one underwriting file, one appraisal process run across all the addresses, one closing and one monthly payment, with pricing set at the portfolio level rather than door by door.
The test is portfolio cash flow. Add up the rent from every property and divide by the combined payment, including principal, interest, taxes, insurance and HOA dues. Standard programs want at least 1.0x. Each property can have 1 to 8 units, the minimum credit score is 620 and no W-2s or tax returns are needed. Max LTV depends on the program and the size of the portfolio.
North Jersey's rental base is built on two- to four-family houses. Newark, Paterson, Elizabeth, Passaic, Union City and parts of Jersey City are full of them, and small 5-8 unit buildings are common too. These properties often have strong rent relative to price but older systems and more municipal oversight than single-family homes.
Central and South Jersey add single-family rentals and rowhomes in Trenton, Camden and the Philadelphia suburbs, and the shore from Asbury Park to Cape May has seasonal and short-term rentals. A blanket loan can combine North Jersey multifamily with suburban single-family homes, and properties across the river in New York or Pennsylvania can be added on some multi-state programs.
This example is illustrative and not a quote. An investor owns three Newark two-families, a Paterson three-family, an Elizabeth two-family and a single-family rental in Union County. Together the six properties are worth about $3,220,000, rent for $26,400 a month and carry about $8,050 a month in taxes and insurance.
At 65% of combined value, the blanket loan is about $2,093,000. Estimated principal and interest on a 30-year schedule is about $14,635 a month, so the total monthly obligation is about $22,685 and the portfolio DSCR is about 1.16x, above the 1.0x standard minimum. On its own, the Union County SFR would carry an allocated balance of about $312,000 and a ratio of about 0.96x; inside the blanket, the stronger properties help carry it. High New Jersey property taxes take up most of the taxes-and-insurance column, which is why current bills matter.
| Property | Value | Monthly rent | Taxes + insurance / mo |
|---|---|---|---|
| Newark two-family | $520,000 | $4,400 | $1,300 |
| Newark two-family | $495,000 | $4,200 | $1,250 |
| Newark two-family | $540,000 | $4,500 | $1,350 |
| Paterson three-family | $610,000 | $5,400 | $1,500 |
| Elizabeth two-family | $575,000 | $4,600 | $1,400 |
| Union County SFR | $480,000 | $3,300 | $1,250 |
| Portfolio total | $3,220,000 | $26,400 | $8,050 |
Property taxes in New Jersey are high nearly everywhere and vary by town, and reassessments or revaluations can shift a bill noticeably. Taxes are often the largest single expense on a New Jersey rental, so use current bills for each property. Flood insurance matters along the shore, the Meadowlands and other low-lying areas, and that premium counts in the payment.
New Jersey charges a realty transfer fee on sales, plus additional fees on higher-priced transactions, and the state changed parts of this structure in 2025. If you are buying properties or moving title into an LLC as part of the transaction, ask your title company for current figures.
A release provision lets one property leave the blanket when it sells or gets its own refinance. You pay down the loan by that property's release price, which your loan documents set and which is usually higher than its allocated share, and the lender releases its lien on that address.
The properties that remain still have to support the loan, so think about which ones you may sell before you assemble the package. Keeping likely sales out of the blanket, or putting them on their own DSCR loans, can keep the remaining portfolio simpler.
Many New Jersey municipalities, including Newark, Jersey City and Hoboken, have local rent control ordinances that limit increases on covered units. The state Anti-Eviction Act requires good cause to remove most residential tenants. Underwriting uses actual rents, so a rent-controlled unit is sized on what it legally collects, not on market rent.
Many towns require a certificate of occupancy or rental inspection when tenants change, and New Jersey's lead-safe law requires lead inspections of many pre-1978 rentals. Make sure each property is registered with its town where required and current on inspections before you apply.
A blanket loan fits best when the properties are stabilized and you plan to hold most of them for years. It cuts paperwork, gives you one payment to track and lets strong properties carry weaker ones in the coverage test.
Separate DSCR loans keep each property independent, which can make selling simpler and lets each property get terms based on its own numbers. Many investors use both: a blanket for the long-term core and individual loans for properties they expect to sell. For a deeper comparison, see blanket loan vs individual DSCR loans.
Pulling these together before you apply saves time across multiple appraisals. Send your property schedule through the form below, or call (877) 298-1001, to get a quote.
Yes. LendingStreet finances blanket portfolio loans on non-owner-occupied investment property in New Jersey, from $150,000 with no stated maximum. Our investor loans are business-purpose loans on non-owner-occupied property.
Yes. A rent-controlled unit is sized on the rent it legally collects. Know which properties fall under local rent control before you apply.
They are high, so they lower the combined ratio. Two- and three-family homes often still work because rent from multiple units covers the bill.
Five or more investment properties of 1 to 8 units each. Properties with 9 or more units are commercial and go through a different program.
Total monthly rent divided by the total monthly payment, including principal, interest, taxes, insurance and HOA dues. Standard programs want 1.0x or better.
Yes. LLC borrowers are standard. If properties sit in several LLCs, ask how the program handles multiple entities.
No stated maximum. Loans start at $150,000, and larger portfolios get more review and may have a lower max LTV.
Many pre-1978 rentals require lead inspections under state law, and many towns require inspections at tenant turnover. Have those records ready.
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