Central Florida's population growth has made long-term rentals a large part of the Orlando housing market, from concrete block homes in Pine Hills to newer townhomes in Meadow Woods. Investors who own several of them often find that insurance and taxes, not the mortgage, are the hardest numbers to manage.
In short: LendingStreet offers blanket portfolio loans that combine five or more Orlando-area rentals, each 1 to 8 units, under one loan with one closing and one payment. The loan qualifies on the portfolio's total rent against the total payment, including taxes, insurance and HOA dues, uses portfolio pricing and includes release provisions for selling individual properties. No W-2s or tax returns are required, and LLC borrowers are standard.
West of downtown, Pine Hills and the neighborhoods around Silver Star Road have 1960s and 1970s concrete block homes at prices below the metro average. East of downtown, Azalea Park, Union Park and the areas near the University of Central Florida offer similar homes, with student and staff demand near campus.
To the south, Meadow Woods, Hunters Creek and Buenaventura Lakes in Osceola County have newer homes and townhomes, many in HOAs, rented to families working at the airport, Lake Nona's medical city and the tourism corridor. North and west, Apopka, Ocoee and Sanford add newer subdivisions and older in-town homes.
Mixing these areas in one loan can balance older, lower-priced homes with newer properties that have lower insurance costs. Many Orlando investors also own a few homes in Polk or Volusia County, and those can often be included too, as long as each property has 1 to 8 units and meets the program's condition standards.
A blanket loan compares total rent with the total monthly payment for all properties. In Florida, that payment carries more taxes and insurance than in many states, and HOA dues apply to many newer homes and townhomes. Lower leverage is often what makes the portfolio clear 1.0x.
Each property still needs a value, rent and acceptable condition. Homes with old roofs can be hard to insure, which can keep them out of the package until the roof is replaced.
This example is illustrative and not a quote. An investor owns six rentals worth $1,895,000 combined, renting for $14,000 a month. Taxes without homestead exemptions are budgeted at about $2,764 a month, insurance at $1,260 and HOA dues on three properties at $325.
At 70% of value, the blanket loan is $1,326,500 with estimated principal and interest of about $9,275. The total payment is about $13,624 and portfolio DSCR is about 1.03x, a thin margin above the minimum. At 65% of value, the loan is $1,231,750, the payment about $12,961 and DSCR about 1.08x, which leaves more room for a vacancy or an insurance increase.
| Property | Value | Monthly rent | HOA |
|---|---|---|---|
| Pine Hills block home | $290,000 | $2,250 | $0 |
| Azalea Park block home | $335,000 | $2,400 | $0 |
| Meadow Woods townhome | $300,000 | $2,250 | $220 |
| Buenaventura Lakes home | $325,000 | $2,350 | $45 |
| Apopka newer home | $360,000 | $2,550 | $60 |
| Sanford home | $285,000 | $2,200 | $0 |
| Portfolio total | $1,895,000 | $14,000 | $325 |
| Payment at 70% / DSCR | $13,624 | 1.03x | |
| Payment at 65% / DSCR | $12,961 | 1.08x |
A release provision lets you sell one property and pay down a set release amount, usually more than the property's share of the loan, while the rest stays financed. The remaining properties must still meet the program's DSCR and leverage requirements.
Orlando investors sometimes plan to sell older homes to owner-occupant buyers once values rise. If that is your plan, ask how release amounts are calculated before you close, and run the portfolio DSCR without the homes you expect to sell, since the remaining properties will need to carry the loan on their own.
Hurricane wind coverage is the largest insurance cost on most Orlando rentals. Insurers price by roof age and type, wind mitigation features such as roof-to-wall connections and impact-rated openings, and the age of plumbing and electrical systems. A wind mitigation inspection on each home can lower premiums.
Some properties near lakes, creeks and low-lying areas fall in flood zones and need flood insurance. Check the flood map for every address.
Investors do not receive the homestead exemption, and non-homestead property in Florida has a 10% annual cap on assessed value increases for non-school taxes, which resets on sale. Homes you have held for years may have lower assessed values than recent purchases.
Florida charges documentary stamp tax on new notes and an intangible tax on new mortgages, which apply to a blanket refinance. Deed stamps apply when you buy properties to add to the portfolio. Properties may sit in Orange, Osceola, Seminole or Lake County, each with its own millage.
Many newer Orlando-area communities have HOAs, and some limit the number of rentals, set minimum lease terms or require tenant registration. Florida law also sets rules on how associations can change rental restrictions. Review each HOA's rules before adding a property to the package.
The City of Orlando and Orange County restrict short-term rentals in most residential areas, so blanket loans here are usually built on 12-month leases.
A blanket loan suits investors who want one payment and one maturity, or who want cash out across the whole portfolio. Individual DSCR loans can be better if you plan to sell several homes soon. Our comparison guide covers both, and some programs let you include rentals in other states, such as properties in Tampa, Jacksonville or Georgia, in a multi-state portfolio.
To start, send a list of addresses, values, rents, HOA dues, roof ages and loan balances with the form below, or call (877) 298-1001.
Five or more investment properties, each with 1 to 8 units.
Yes. Properties across the metro can be combined, and some programs allow properties in other states.
Florida insurance, property taxes and HOA dues add significantly to the monthly payment. Lower leverage is often what lets the portfolio clear 1.0x DSCR.
Possibly, if it can be insured at a reasonable cost. Older roofs often raise premiums or limit coverage, so replacing them can help the whole package.
The amount you pay down to remove one property from the blanket loan when you sell it. Terms vary by program.
Yes, on some programs. Cash-out goes up to 75% LTV and often lower on larger balances, and the portfolio must still meet the DSCR requirement.
No. Blanket DSCR loans qualify on rent, not personal income.
Some programs consider short-term rentals in a portfolio, but most Orlando blanket loans are built on long-term leases because the city and Orange County restrict nightly rentals.
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