Utah portfolios are concentrated along the Wasatch Front, from Ogden through Salt Lake City to Provo and Orem, with more in St. George and Logan. Investors holding five or more rentals can bring them under one blanket loan.
In short: Yes, LendingStreet finances blanket portfolio loans in Utah for investors with five or more rental properties, each with 1 to 8 units, under one loan qualified on the portfolio's combined rent. Utah taxes a primary residence on 55% of its value. A long-term rental that is a tenant's primary residence can generally qualify for the same exemption with a declaration to the county, but short-term rentals, vacant homes and second homes are taxed on full value, so confirm each property's status with the county assessor.
A blanket portfolio loan puts five or more investment properties, each with 1 to 8 units, under one mortgage. Instead of separate notes, escrow accounts and due dates, you have one closing, one payment and one set of loan documents. Pricing is set for the whole portfolio.
Underwriting looks at the portfolio's combined cash flow: total rent against total principal, interest, taxes, insurance and any HOA dues. A weaker property can be carried by stronger ones, as long as the combined ratio clears the program minimum, which is 1.0x on standard programs. Loans start at $150,000 with no stated maximum, and max LTV varies by program and portfolio size.
Salt Lake County holds the largest share of the state's rentals, from older homes in Rose Park, Glendale and Sugar House to newer suburbs such as West Valley City, West Jordan and Herriman. Ogden and Layton, near Hill Air Force Base, offer lower prices. Provo and Orem have large student markets tied to BYU and Utah Valley University.
St. George has grown fast as a retirement and second-home market with a significant vacation rental presence. Logan, home to Utah State University, has student and family rentals. Many Utah homes have basement apartments, and a legal accessory unit can add rent to a property's income if it is permitted by the city.
This example is illustrative and not a quote. An investor owns two Salt Lake County rentals, two in Ogden, an Orem duplex and a West Jordan home. Together the six properties are worth about $2,635,000, rent for $15,150 a month and carry about $1,860 a month in taxes and insurance.
At 60% of combined value, the blanket loan is about $1,581,000. Estimated principal and interest on a 30-year schedule is about $11,055 a month, so the total monthly obligation is about $12,915 and the portfolio DSCR is about 1.17x, above the 1.0x standard minimum. On its own, the West Jordan SFR would carry an allocated balance of about $288,000 and a ratio of about 1.09x; inside the blanket, the stronger properties help carry it. The tax figures here assume tenants occupy each home as their primary residence; a property taxed on full value would have a higher tax line.
| Property | Value | Monthly rent | Taxes + insurance / mo |
|---|---|---|---|
| West Valley City SFR | $440,000 | $2,400 | $300 |
| Salt Lake City SFR, Rose Park | $415,000 | $2,300 | $290 |
| Ogden SFR | $340,000 | $2,000 | $250 |
| Ogden duplex | $420,000 | $2,700 | $310 |
| Orem duplex | $540,000 | $3,200 | $380 |
| West Jordan SFR | $480,000 | $2,550 | $330 |
| Portfolio total | $2,635,000 | $15,150 | $1,860 |
Utah's residential exemption taxes a primary residence on 55% of its market value, while rentals that are not anyone's primary residence are taxed on full value. Long-term rentals occupied by a tenant as their primary residence may qualify for the exemption, but short-term rentals do not. Check how each property is classified and use its current bill. Utah does not charge a real estate transfer tax.
Insurance is generally moderate, but earthquake coverage is a separate decision along the Wasatch Fault, and wildfire exposure matters in foothill and canyon areas. Get quotes for each property before applying.
Selling a rental out of a blanket loan is handled through a partial release. The loan documents assign each property a share of the balance and set a release price, typically above that share, that you pay down when the property sells. The rest of the portfolio stays in place under the same loan.
Plan releases with the remaining portfolio in mind. If you sell the property with the best rent-to-value, the remaining ratio drops, so it helps to model the portfolio after the sale before you list the property.
Utah's Fit Premises Act and related statutes govern long-term rentals, and state law preempts local rent control. Many Provo and Orem rentals near BYU must meet the university's off-campus housing standards to rent to students, which can affect occupancy.
Salt Lake City restricts non-owner-occupied short-term rentals in most residential zones. Park City allows them in many areas, and St. George allows them only in designated zones. Check the city or county before counting nightly income on any property.
The case for a blanket loan is simplicity and coverage: one payment, one set of documents, and a combined ratio that lets a lower-performing house ride along with stronger ones. It suits investors who want to stop managing a dozen separate loans.
The case for individual loans is flexibility. Each property can be sold or refinanced on its own without a release price, and a problem with one loan does not touch the others. If you expect to sell several properties in the next few years, keep them out of the blanket.
A complete package keeps the appraisals and underwriting moving. Call (877) 298-1001 or use the form below to get a quote on your Utah portfolio.
Yes. LendingStreet finances blanket portfolio loans on non-owner-occupied investment property in Utah, from $150,000 with no stated maximum. Our investor loans are business-purpose loans on non-owner-occupied property.
Utah taxes a primary residence on 55% of value. Rentals that are not a tenant's primary residence, including short-term rentals, are taxed on full value.
If the accessory unit is legally permitted, its rent can count. Have the permit or city approval ready.
At least five investment properties, each with 1 to 8 units. There is no stated maximum on the number of properties or the loan amount.
Standard programs look for a combined ratio of 1.0x, meaning total rent covers the total payment. Some programs allow lower ratios with adjusted terms.
No. Blanket loans qualify on the portfolio's rent. You need a 620 or higher credit score, reserves and entity documents if the properties are in an LLC.
On some programs, yes. Multi-state portfolios can go under one loan, though each property is appraised and recorded where it sits.
Usually not. Salt Lake City restricts non-owner-occupied short-term rentals in most residential zones.
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