Santa Fe rentals hold their value and lease quickly, but prices are high for New Mexico and rents do not always keep pace. Many Santa Fe investors balance that by owning rentals in Albuquerque, Rio Rancho or Los Alamos as well. A blanket loan lets them finance the whole group as one portfolio.
In short: LendingStreet offers blanket portfolio loans for Santa Fe investors who own five or more rentals of 1 to 8 units each, in Santa Fe alone or across northern New Mexico. The loan is qualified on combined rent against combined payment, taxes and insurance, with one closing, one payment and release provisions when you sell a property. Pairing Santa Fe homes with higher-yield Albuquerque-area rentals often lets the portfolio carry more leverage than Santa Fe properties could on their own.
Santa Fe landlords tend to be long-term holders. Many bought homes on the Southside or in Casa Solana years ago, added a duplex or casita property, and picked up rentals in Albuquerque or Rio Rancho where prices per door are lower. Their loans have different lenders, terms and maturity dates.
A blanket loan replaces that with one note. Owners use it to consolidate, to pull equity from appreciated Santa Fe homes, or to fund the next purchase without separate refinances on each property.
It also suits owners planning for retirement or succession. A single loan on a single LLC-held portfolio is easier to hand to a property manager or the next generation than seven separate loans with seven sets of statements.
Inside Santa Fe, rental portfolios often include homes on the Southside around Airport Road, Tierra Contenta and Nava Ade, mid-century homes in Casa Solana and Bellamah, properties along Agua Fria and in the Westside, and newer homes in Rancho Viejo and the Community College District south of the city.
Outside the city, Albuquerque neighborhoods such as Nob Hill, the University area, the Northeast Heights and Westside, plus Rio Rancho, add stronger rent relative to price. Los Alamos rentals draw national laboratory employees and contractors, and supply there is tight.
Each property is underwritten on its lease or market rent, and the totals are rolled together. The portfolio qualifies when combined rent covers combined principal and interest, taxes, insurance and any HOA dues at the required ratio, with 1.0x the standard minimum.
That pooling is the main advantage for Santa Fe owners, and it is the reason many of them include properties outside the city. A Casa Solana home that might run below 1.0x on its own can still sit inside a portfolio that clears comfortably because a Rio Rancho rental and an Albuquerque duplex carry more rent per dollar of value.
This example is illustrative and not a quote. An investor combines four Santa Fe-area properties with an Albuquerque duplex, a Rio Rancho home and a Los Alamos home. Taxes are estimated from each property's assessment, and insurance at $150 a month per property.
At 75% of combined value the DSCR would be about 0.93x, and at 70% about 0.99x. At 65%, a blanket loan of $2,242,500 has estimated principal and interest of about $15,298 and a monthly total of about $18,639. Against combined rent of $19,550, the portfolio DSCR is about 1.05x.
| Property | Value | Monthly rent | Annual taxes |
|---|---|---|---|
| Santa Fe, Tierra Contenta single-family | $465,000 | $2,550 | $3,300 |
| Santa Fe, Casa Solana single-family | $610,000 | $3,000 | $4,100 |
| Santa Fe, Agua Fria duplex | $540,000 | $3,300 | $3,700 |
| Rancho Viejo single-family | $575,000 | $2,900 | $4,600 |
| Albuquerque, Nob Hill duplex | $420,000 | $2,900 | $4,300 |
| Rio Rancho single-family | $360,000 | $2,200 | $4,000 |
| Los Alamos single-family | $480,000 | $2,700 | $3,500 |
| Total | $3,450,000 | $19,550 | $27,500 |
New Mexico taxes residential property on one-third of its assessed value, and annual valuation increases are limited for residential property that stays with the same owner. A refinance does not change ownership, so long-held rentals often carry tax bills based on older values. The value resets when a property sells.
New Mexico does not charge a real estate transfer tax or a mortgage recording tax, so a blanket refinance's closing costs are mostly title, appraisals and recording fees. Counties set their own tax rates, so Santa Fe, Bernalillo, Sandoval and Los Alamos county bills differ.
When you sell one property, release provisions let you pay down the loan by a set release amount and remove that property from the lien, while the rest of the portfolio stays in place. Release amounts are written into the loan documents and vary by program.
Selling a Santa Fe home at a strong price while keeping the higher-yield Albuquerque rentals usually improves the remaining portfolio's DSCR. Selling the high-yield properties first can do the opposite, so plan which properties you are likely to sell before closing.
Portfolios in northern New Mexico often include homes outside city limits on wells and septic systems, or on larger lots. These can be included, though acreage and property-type limits vary by program, and appraisals can take longer when comparable sales are farther away.
Short-term rentals can also sit in a blanket portfolio on some programs, but they need valid permits and are underwritten more conservatively than long-term leases.
If a property is in a remote area with very few comparable sales, it may be simpler to keep it on its own loan and blanket the rest. We can tell you early which properties fit best.
Send a property schedule with addresses, unit counts, leases, current loan balances, tax bills and insurance, and flag any properties you may sell or that are on wells or septic. A simple spreadsheet is enough to get started. Call (877) 298-1001 or use the form below.
Yes. Properties across New Mexico can be combined, and on some programs properties in more than one state.
Five or more investment properties, each with 1 to 8 units.
The standard minimum is 1.0x on combined rent against combined payment, taxes, insurance and HOA dues.
No. New Mexico has no real estate transfer tax or mortgage recording tax, so closing costs are mostly title, appraisal and recording.
Yes. Release provisions let you sell one property and pay down the loan by the release amount set at closing.
Yes, in many cases. Acreage and property-type limits vary by program.
Yes, up to 75% LTV on some programs, if the portfolio DSCR supports it. Including a few higher-yield Albuquerque-area rentals often makes room for more cash-out than Santa Fe homes alone.
No. The portfolio qualifies on rent. LLC borrowers are standard, and you sign for the loan personally.
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