Tampa investors who started with one Riverview rental often end up with six or eight properties spread across Brandon, Seminole Heights and Temple Terrace, each with its own lender, escrow and renewal date. A blanket loan pulls them under one note so the portfolio is managed like a business.
In short: LendingStreet offers blanket portfolio loans in Tampa for investors with five or more rental properties, each 1 to 8 units, qualified on the combined cash flow of the portfolio. You get one closing, one payment, portfolio pricing and release provisions so you can sell a single house without refinancing everything. Our investor loans are business-purpose loans on non-owner-occupied property.
Florida insurance has changed how small landlords run their books. Every renewal now means a new premium, a new escrow analysis and sometimes a new carrier, multiplied by every loan you hold. Consolidating means one escrow account, one servicer and one set of statements to reconcile.
A blanket also lets a strong property carry a weaker one. A paid-down Brandon house with high rent can offset a Seminole Heights duplex that just reset to a higher tax assessment, as long as the portfolio as a whole meets the DSCR test.
Most Tampa blanket requests mix suburban single-family homes with older city properties:
Instead of testing each house alone, the loan is sized on total rent divided by the total monthly payment for principal, interest, taxes, insurance and any HOA dues. The standard minimum is 1.0x, and sub-1.0 programs exist for some files. Each property still needs to be a 1 to 8 unit rental, and a lender may set limits on how much of the pool can be vacant or in rough condition.
In practice, the ratio is a weighted test. A paid-off Riverview house with a low payment share and solid rent lifts the whole pool, while a duplex bought last year at a high price pulls it down. Before you apply, line up each property's rent, tax bill and insurance premium in one sheet so you can see which houses help and which hurt, and decide whether a weak property belongs in the blanket at all.
Even though the loan is one note, each house is still looked at individually:
This example is illustrative and not a quote. An investor refinances six rentals into one blanket loan at 70% of the combined value.
The loan is $1,722,000. Estimated principal and interest on a 30-year schedule is about $11,747 a month. Add property taxes of $2,455 and insurance of $1,735 for a total payment of about $15,937. Rent of $16,400 divided by that payment gives a portfolio DSCR of about 1.03x.
The investor could push toward 75% to pull more cash out, but the ratio would tighten. Leaving some equity in the pool keeps a cushion for the next insurance renewal and for a vacancy or two, which in Tampa's current insurance market is often the smarter trade.
| Property | Value | Monthly rent |
|---|---|---|
| Riverview single-family | $385,000 | $2,350 |
| Brandon single-family | $360,000 | $2,250 |
| Valrico single-family | $395,000 | $2,400 |
| Seminole Heights duplex | $520,000 | $3,800 |
| Sulphur Springs duplex | $400,000 | $3,300 |
| Temple Terrace single-family | $400,000 | $2,300 |
| Total | $2,460,000 | $16,400 |
Suppose the investor wants to sell the Temple Terrace home. Its allocated share of the loan is about $280,000. If the loan documents set the release at 115% of the allocated amount, the investor pays about $322,000 from the sale to free that house, and the other five stay financed. Actual release terms vary by program and are set at closing, so read them before you sign. Our release clause guide walks through the math.
Florida charges documentary stamp tax on the new note and intangible tax on the recorded mortgage, so a larger blanket balance means a larger closing bill. Those taxes are based on the loan amount, which is one reason to size the loan to what you actually need. Title insurance is set by state rule. Ask for a full closing estimate and compare it with what you would spend refinancing each property separately.
Underwriting uses the actual premium for each property, so one older roof or flood-zone house can drag the portfolio ratio down. Newer Riverview and Valrico homes usually insure for less than 1920s bungalows in Seminole Heights. Because rentals are not homesteaded, Hillsborough County assessments on recently bought houses can climb toward market value, so budget for that in the years after closing.
List each property with its address, value estimate, current loan balance, rent and lease status, and send it through the form below or call (877) 298-1001. If you also own rentals in Orlando, Jacksonville or out of state, ask about putting them under the same loan on our multi-state program.
Five or more investment properties, each with 1 to 8 units.
Yes. The whole metro can sit under one loan, and some programs allow properties in more than one state.
The portfolio is underwritten as a whole. A vacant unit lowers total rent, so the rest of the pool needs to carry it, and a lender may limit vacancies.
Yes, subject to the program's leverage limits and seasoning rules. Cash-out on standard DSCR programs goes up to 75% LTV.
You pay the release amount set in your loan documents, and that property comes off the loan while the others stay.
Not always. Separate loans keep each property independent. Our comparison page lays out the trade-offs.
No. Qualification is based on the portfolio's rental income, with a 620 minimum credit score.
On some programs. Ask before you include them, because STR income is handled differently and a beach rental's seasonal revenue can make the portfolio ratio swing more than long-term leases do.
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