California’s booming real estate market presents unique opportunities for investors and business owners looking to expand their property portfolios. But traditional mortgage financing can become cumbersome when you’re dealing with multiple properties. Enter blanket loans, a financing solution that could streamline your investment strategy and unlock new possibilities for growth. If you want to take advantage of this opportunity, Westpark Loans should be your first choice.
Traditional mortgages follow a one-loan-per-property model. Each property requires separate applications, underwriting processes, closing costs, and monthly payments. Our blanket loans consolidate this approach by combining multiple properties into a single financing package. Partner with us today and unlock new opportunities for building and managing your California property portfolio!
Blanket Loan Features and Terms
| Feature | Details |
|---|---|
| Loan Type |
Hard Money Blanket Loan |
| Lien Position | 1st Position |
| Loan Term | Flexible, up to 30 Year Team |
| Interest Rates | Available |
| Loan Amount | $500,000 – $10,000,000 |
| LTV | Up to 75% of combined property value |
| Credit Score | Minimum 600 |
| Occupancy | Investment Properties Only |
| Property Types Allowed | Residential and Commercial Properties |
| Prepayment Penalty | Prepayment Buy Down Available |
| Closing Time | 10-45 days |
What is a Blanket Loan?
A Blanket Loan is a type of loan that covers multiple properties under a single financing agreement. This type of loan simplifies the management of multiple real estate investments by consolidating them into one loan. It allows investors to leverage the equity in several properties simultaneously, providing a powerful tool for financing large-scale projects and new acquisitions.
Maximize your real estate investment potential with our Hard Money Blanket Loans. This financing solution is ideal for real estate investors who want to leverage multiple properties under one loan. Whether you’re looking to expand your portfolio, refinance multiple properties, or access equity for new investments, our Hard Money Blanket Loans offer the flexibility and efficiency you need.
Blanket Loan Features and Benefits
Consolidated Financing: Manage multiple properties under a single loan, simplifying your financial management and reducing paperwork.
Flexible Access to Equity: Leverage the combined equity of all covered properties to access more capital for new investments or improvements.
Competitive Rates: Benefit from competitive interest rates that make your investments more profitable.
Fast Approval and Closing: Enjoy quick approval and closing times, ensuring you can act swiftly on investment opportunities.
High Loan-to-Value (LTV) Ratios: Secure up to 75% of the combined value of your properties, providing substantial funding for your needs.
No Prepayment Penalties: Repay your loan without worrying about prepayment penalties, offering greater financial flexibility.
Who Would Benefit from a Blanket Loan?
Real Estate Investors: Ideal for investors with multiple properties who want to simplify their financing and access more capital. For example, an investor in San Diego might use a Blanket Loan to refinance five rental properties, freeing up equity for new purchases.
Property Developers: Developers can use Blanket Loans to finance multiple projects simultaneously. A developer in Los Angeles could leverage this loan to fund the construction of several residential units across different sites.
Small Business Owners: Business owners with multiple commercial properties can benefit from consolidated financing. A small business owner in San Francisco could use a Blanket Loan to refinance their properties and invest in business expansion.
Real Estate Portfolio Managers: Managers handling multiple investment properties can streamline their financing and improve cash flow management. A portfolio manager in Sacramento might use this loan to refinance and renovate several properties, increasing their value and rental income.
Fix and Flip Investors: Investors who flip multiple properties at once can use Blanket Loans to finance their projects efficiently. An investor in Riverside could leverage this loan to purchase and renovate several homes simultaneously, optimizing their investment strategy
Blanket Loan Example
Jake, an experienced real estate investor based in San Diego, owns multiple rental properties across Southern California. He wanted to simplify his financing and expand his portfolio by acquiring three new rental properties. By securing a Blanket Loan, Jake was able to consolidate the mortgages of his existing five properties and use the remaining funds to purchase the new properties. This allowed him to streamline his payments while expanding his real estate holdings.
•Location: San Diego, California
•Properties: Five existing rental properties and three new acquisitions
•Combined Property Value: $10,000,000
•Current Amount Owed: $4,000,000 (across five properties)
•Loan Type: Blanket Loan
•New Loan Amount: $6,000,000 (consolidating existing debt and acquiring new properties)
•Loan Term: 30 years
•Lien Position: 1st Position
Westpark Loans helped Jake secure a Blanket Loan, allowing him to consolidate his existing mortgages and fund the acquisition of three new properties. This strategic financing move enabled Jake to manage his portfolio more efficiently and increase his cash flow through the additional rental income.
Frequently Asked Questions
The minimum credit score required is 600.
Yes, this loan can be used for both residential and commercial properties.
No, there are no prepayment penalties.
The closing time ranges from 10 to 45 days.
Yes, you can leverage the combined equity of multiple properties under a single loan.
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There’s no one-loan-fits-all solution. For more information on our All In One Loans, please contact our licensed Loan Specialists to find the best option for you.