Blanket Loan Guideline
The following guidelines are general, please speak to your account executive about other programs and options that might be available for your project.
We can provide blanket loans also know as “Wrap Mortgages” across the United States. Blanket loans combine two or more properties under one single mortgage with release clauses so they may be sold separately.
Since many states have different loan guidelines that we must abide by blanket mortgage loans are confined to each single state.
Example, you have four properties in California and seven properties in Nevada. We would provide two blanket loans, one in California for the four properties and one in Nevada for the additional seven properties.
Add 1% to the rate of any of our loan programs for blanket loans.
Even though you have several properties under a single mortgage you will have to have an appraisal and environmental report completed for each property.
A blanket mortgage is a perfect vehicle to use to help manage and reduce the costs of owning more than one property.