California Rental Portfolio Loans
One Loan for All Your Rentals

A rental portfolio loan (also called a blanket mortgage) finances multiple investment properties under a single loan. Instead of having individual loans on each rental, all properties are cross-collateralized under one note with one monthly payment. Lenders qualify the borrower based on the aggregate rental income and cash flow of the entire portfolio rather than analyzing each property separately or requiring personal income documentation.

Most portfolio lenders work with 2–50 properties, though some lenders handle larger pools. The minimum is typically 2–3 properties. Properties must generally be in the same state (California) and meet the lender's property condition and occupancy requirements. Some lenders specialize in geographically concentrated portfolios; others are comfortable with properties spread across multiple California markets.

Lenders typically require a minimum 1.0 aggregate DSCR — meaning the total rental income of all portfolio properties must at least equal the total debt service (principal, interest, taxes, insurance, and HOA). Individual properties can fall below 1.0 DSCR as long as the overall portfolio is at or above the threshold. Some lenders require 1.10–1.20 aggregate DSCR for better rates.

Yes. Most portfolio lenders allow you to add properties to the blanket loan over time through a process called supplemental draws or add-on loans. You can also refinance the entire portfolio as you acquire new properties. Some lenders structure the loan with a revolving feature that allows draws and paydowns as you buy and sell individual properties.

Individual DSCR loans finance one property per loan — you would have 10 separate loans for 10 properties. A rental portfolio loan covers all 10 under one loan with one payment. Portfolio loans are more efficient administratively but typically have slightly higher rates (0.25–0.5% more) than individual DSCR loans. The trade-off is simplicity and the ability to cross-collateralize: strong properties support weaker ones in the lender's underwriting.

Yes, through a partial release provision. Most portfolio loans include a release clause that allows you to sell or refinance individual properties out of the blanket loan by paying down a specified portion of the outstanding balance (typically 110–125% of that property's allocated loan amount). This gives you flexibility to optimize your portfolio without triggering a full refinance.