Few Seacoast investors build a portfolio inside Portsmouth itself. Most own a mix: one or two higher-rent units near downtown and several lower-priced homes and duplexes in Dover, Rochester and Somersworth. A blanket loan can put all of them on one note.
In short: LendingStreet offers blanket portfolio loans for investors who own 5 or more rentals (each 1 to 8 units) on the New Hampshire Seacoast and beyond. The loan qualifies on the portfolio's combined cash flow, closes once, carries one payment and includes release provisions so you can sell a property without refinancing the rest. No W-2s or tax returns are required and LLC borrowers are standard.
Portsmouth prices are high relative to rents, so a single Portsmouth rental often runs close to a 1.0x ratio on its own. Dover, Rochester and Somersworth cost less and many have older two-family homes and small multi-unit buildings from their mill-town past, which tend to produce stronger cash flow per dollar. A typical Seacoast portfolio built over ten years might hold one Portsmouth property bought early, plus several Dover and Rochester homes and duplexes added as prices in Portsmouth climbed.
On a blanket loan, the stronger properties support the thinner ones because the ratio is measured across the whole portfolio. That is often the main reason Seacoast investors consolidate.
In Portsmouth, rentals cluster in the West End, along Islington Street, in Christian Shore and near the Pease Tradeport, where tenants include hospital, shipyard and Pease employers. The Portsmouth Naval Shipyard in Kittery is a steady source of renters across the region.
Dover has older two-families near downtown and the Cocheco River mills, plus single-family homes on the edges of town. Rochester and Somersworth have lower entry prices and more duplexes and triplexes. Exeter, Newmarket and Durham (home to UNH) round out many portfolios, with Durham leaning toward student housing.
| Town | Typical holdings | Notes for a portfolio |
|---|---|---|
| Portsmouth | Condos, two-families, small buildings | Higher rents, higher prices, thinner DSCR |
| Dover | Two-families, single-family | Older mill-era housing near downtown |
| Rochester | Duplexes, triplexes, single-family | Lower entry prices, stronger cash flow |
| Somersworth | Single-family, two-families | Small city near the Maine border |
| Durham, Newmarket | Student and workforce rentals | UNH demand; check occupancy rules |
Instead of testing each property, the loan adds up the rent from every unit and divides it by the combined payment: principal and interest on the blanket loan plus each property's taxes, insurance and any HOA dues. The program minimum is generally 1.0x, with sub-1.0 options on some programs.
New Hampshire property taxes are a large line item, and they vary widely from town to town because each municipality sets its own rate. Use each property's current bill, not a regional average.
This example is illustrative and not a quote. An investor owns six rentals: four in Dover and Rochester, one in Somersworth and a two-family in Portsmouth's West End. Combined rent is $17,550 a month and combined taxes and insurance are $3,000 a month. The properties are valued at $2,350,000 in total.
At 70% LTV the blanket loan is $1,645,000. Estimated principal and interest on a 30-year term is about $11,785. The total payment is about $14,785, and portfolio DSCR is about 1.19x.
| Property | Monthly rent | Taxes and insurance |
|---|---|---|
| Dover single-family | $2,400 | $430 |
| Dover duplex | $3,300 | $570 |
| Rochester duplex | $2,900 | $520 |
| Somersworth single-family | $2,200 | $400 |
| Rochester single-family | $2,150 | $390 |
| Portsmouth West End two-family | $4,600 | $690 |
| Portfolio total | $17,550 | $3,000 |
Release provisions let you sell one property and pay down part of the loan instead of refinancing the whole thing. The release price is usually set at closing as a share of the allocated loan amount for that property, often more than 100% of it, so the remaining portfolio is in a stronger position after each sale.
Each release also lowers the remaining loan balance and payment, so the ratio on what is left should hold up. Plan releases in advance. If you expect to sell the Portsmouth unit in a few years and keep the Dover and Rochester homes, say so up front so the allocation fits that plan. Our blanket release clause guide explains how it is set.
New Hampshire has a real estate transfer tax that is usually split between buyer and seller on a sale. A refinance with no change of ownership is generally treated differently, but moving properties between your own LLCs can raise transfer tax questions, so talk to your title company or attorney before retitling.
Municipalities revalue property on a regular cycle (state law requires a full revaluation at least every five years), so a portfolio's tax bills can jump in a revaluation year.
A blanket loan means one closing, one payment and portfolio pricing. Separate loans keep each property independent, which can be simpler if you plan to sell several at once. Our comparison of blanket loans and individual DSCR loans walks through the trade-offs, and some programs allow properties in more than one state if you also own in Maine or Massachusetts.
Many Seacoast investors bought in Dover and Rochester years ago at much lower prices, and those properties now carry a lot of equity. A blanket cash-out refinance can pull some of that equity out in one closing, often to fund the next purchase. Leverage on a blanket loan is often lower than on a single-property loan and varies by program, and the portfolio still has to meet the minimum ratio at the new payment.
Seasoning rules for cash-out vary by program, so properties bought recently may be valued at cost rather than current value. If part of the portfolio was renovated, have the work list and costs ready, since that supports a higher valuation.
If you are buying more properties soon, ask whether the blanket structure can add them later or whether a separate loan makes more sense for the new purchases.
Send a rent roll with each address, rent, tax bill, insurance and current loan balance. The team will run the portfolio ratio, flag any property that drags it down and come back with options. Call (877) 298-1001 or use the form below.
Five or more investment properties, each with 1 to 8 units.
Yes. Properties in different towns can be combined, and the ratio is measured across the whole portfolio.
On a blanket loan, stronger properties can carry a weaker one, as long as the combined ratio meets the program minimum.
Yes. Release provisions let you sell a property by paying a set release amount, without refinancing the others.
Yes. Each property's taxes are part of the combined payment. NH rates vary widely by town, so use actual bills.
Some programs allow properties in more than one state. Ask when you send the rent roll.
No. Qualification is based on the portfolio's rent, not personal income documents.
Yes, cash-out is available within program limits, often lower than on a single-property loan.
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