A blanket loan, also known as a portfolio loan, is a mortgage that finances more than one property. At Visio Lending, we strive to enable investors to quickly grow their rental portfolios. Through our fantastic Rental360 Portfolio Plus Loan Program, investors can finance multiple properties with one loan, one closing, and one monthly payment. To further serve our clientele, we recently expanded our portfolio program to include vacation rentals. Here are some of the unique features that make our Portfolio Plus Loan Program the best program on the market for vacation rental real estate investors.
Streamlined Qualification Process
At Visio Lending our loans are based on monthly cash-flow, rather than personal income. We make sense of the short-term rents and can qualify our borrowers based on their portfolios’ debt-service coverage ratio (DSCR), their credit score, LTV, and property condition. Other lenders look at Debt-to-Income, making it extremely challenging to qualify for their portfolio programs, especially for self-employed investors.
Through our Portfolio Plus Loan Program, investors have the options to buy-down their rates and to select the prepayment penalty that works best for their investment strategy. Investors can also select a 5/1 ARM, 7/1 ARM or 30-year fixed rate structure, all of which are 30-year fully amortizing loans- no balloon payments!
Speed and Simplicity
Our mission is to provide the fastest, simplest, and most dependable mortgage financing for investors. To deliver on our promise, we only require 30-day ownership seasoning, so investors can pull cash-out of their vacation rental portfolios quickly, and therefore grow their vacation rental portfolios faster. In addition to requiring very low documentation and having a streamlined qualification process, for the sake of simplicity, Visio does not source or season funds.
Another distinguishing feature of our Portfolio Plus Program is that we don't require borrowers to hire a property manager. Ready to get started on your vacation rental portfolio loan? Contact us.
Related: What is a blanket mortgage?, Visio's Complete Guide to Permanent Rentals