Utah County has grown fast enough that many local investors now own rentals in four or five different cities: a duplex near BYU, a single-family in Orem, something in Springville or Spanish Fork, a newer townhome in American Fork or Lehi. Putting them on one blanket loan simplifies the debt and lets the whole portfolio qualify together.
In short: LendingStreet offers blanket portfolio loans for investors with 5 or more rentals (each 1 to 8 units) in Provo, Orem and across Utah County. The loan qualifies on combined portfolio rent against the combined payment, closes once, carries one payment and includes release provisions for selling individual properties. No W-2s or tax returns are needed, LLC borrowers are standard and portfolio pricing applies.
Provo and Orem have the oldest rental stock in the county: 1960s to 1980s ramblers, split-levels, duplexes and fourplexes, many near BYU and Utah Valley University. South County cities like Springville, Spanish Fork, Mapleton and Payson have more single-family homes at somewhat lower prices. North County (American Fork, Lehi, Saratoga Springs, Eagle Mountain) has newer townhomes and homes near the Silicon Slopes tech employers.
Most portfolios mix older, higher-yield units near the universities with newer, lower-maintenance homes in the growing suburbs.
| Area | Typical holdings | Portfolio role |
|---|---|---|
| Provo (Joaquin, Maeser, Pleasant View) | Duplexes, fourplexes | Student and young family demand |
| Orem | Ramblers, duplexes | Near UVU and I-15 employers |
| Springville, Spanish Fork | Single-family, duplexes | Family tenants, lower turnover |
| American Fork, Lehi, Saratoga Springs | Townhomes, newer homes | Tech workforce, HOA dues |
Utah taxes primary residences on a reduced share of their value through the residential exemption, and a long-term rental occupied full time by a tenant as their primary residence can usually qualify. That keeps property taxes on Utah County rentals low compared with many states, which helps the portfolio ratio. The county assessor may ask for a signed declaration that the property is a tenant's primary residence. Short-term rentals generally do not qualify.
Low taxes do not fully offset Utah County prices, though. Values have risen faster than rents in much of the county, so leverage is often the deciding factor on a blanket loan.
The loan adds rent from every unit and divides it by the blanket loan's principal and interest plus each property's taxes, insurance and HOA dues. The program minimum is generally 1.0x, and sub-1.0 options exist on some programs. Stronger cash-flow properties, like a Provo fourplex, help carry thinner ones, like a newer townhome with HOA dues.
Because HOA dues count in the payment, a portfolio heavy in North County townhomes can show a lower ratio than its rents suggest. Balancing those with older Provo and Orem duplexes, where there is usually no HOA, is a common way Utah County investors keep the portfolio ratio above the minimum.
This example is illustrative and not a quote. An investor owns six rentals: a duplex and a fourplex in Provo, single-family homes in Orem and Springville, a duplex in Spanish Fork and a townhome in American Fork. Combined rent is $19,050 a month. Taxes (with the residential exemption), insurance and HOA dues total $2,475 a month. The portfolio is valued at $3,490,000.
At 70% LTV the blanket loan would be $2,443,000 with estimated principal and interest of about $17,502, a total payment of about $19,977 and a DSCR of about 0.95x, below the 1.0x standard minimum. At 60% LTV the loan is $2,094,000, estimated principal and interest falls to about $15,002, the total payment is about $17,477 and DSCR is about 1.09x. For an investor who bought several of these properties years ago, a 60% blanket loan may still pay off the existing loans and leave cash.
| Property | Monthly rent | Taxes, insurance, HOA |
|---|---|---|
| Provo duplex near BYU | $3,400 | $395 |
| Orem single-family | $2,500 | $340 |
| Springville single-family | $2,350 | $320 |
| Spanish Fork duplex | $3,000 | $370 |
| American Fork townhome (incl. HOA) | $2,200 | $450 |
| Provo fourplex | $5,600 | $600 |
| Portfolio total | $19,050 | $2,475 |
Each property gets an allocated loan amount at closing. To sell one, you pay its release price, usually the allocation plus a premium, and it comes off the loan while the others stay. The remaining portfolio still has to meet the ratio.
Utah County investors often sell older properties near campus to buy newer homes, or the reverse. Tell us your plans so the allocations fit; our blanket loan release clause guide explains how release prices work.
With values up sharply across the county since many of these properties were bought, selling one appreciated property and using the release to pay down the blanket can lift the ratio on everything that remains.
Provo and Orem limit how many unrelated adults may live in a single unit, with limits that depend on the zone, and enforcement near BYU is active. BYU also requires many single undergraduates to live in BYU-contracted housing, so some near-campus buildings lease through that system. Rents in a portfolio should reflect legal occupancy, not the number of bedrooms.
Appraisers rent units based on comparable leases, so a duplex rented by the bedroom to more tenants than the zone allows will not get credit for that rent.
Ask the city to confirm the license status of each property before you apply.
Utah has no real estate transfer tax, which keeps closing costs on a blanket refinance lower than in many states. Title insurance and recording fees still apply. Utah is also a non-disclosure state, meaning sale prices are not public record, so appraisers rely on MLS and other data for comparable sales.
Because sale prices are not public, gather your own records of what each property sold for and any recent appraisals. They help the reviewer and can speed up the valuation of a multi-property portfolio.
Send a rent roll with each address, rent, tax notice, insurance, HOA dues and loan balance. The team will run the portfolio ratio at a few loan amounts, flag any property that drags it down and come back with options, including sub-1.0 programs where they fit. Call (877) 298-1001 or use the form below. Some programs also allow properties in more than one state if you own in Idaho or Arizona.
Five or more investment properties, each with 1 to 8 units.
Yes. Properties in different Utah County cities can be combined.
A rental occupied full time by a tenant as their primary residence can usually qualify. Short-term rentals generally do not. Confirm with the assessor.
Values have risen faster than rents. Lower leverage or a sub-1.0 program often makes the portfolio work.
Yes. Release provisions let you sell one property by paying its release price.
Only rent consistent with legal occupancy and market leases is used.
No. Utah does not have a real estate transfer tax.
No. The portfolio's rent is used to qualify.
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