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Blanket Mortgages in New York

What New York investors should know, with county data and city pages.

A blanket mortgage lets New York investors put several rentals under one loan, either to buy a group of homes together or to combine mortgages they already carry. Each property still gets its own title search, valuation and recorded lien, and the release clause sets what it costs to free one home for sale. Lenders in New York write these loans on their own terms, so compare release prices and reserve expectations before you choose this route.

Questions about blanket mortgages in New York?

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New York LLC and business entity filings: New York Department of State, Division of Corporations, State Records and Uniform Commercial Code. Lenders lending to an LLC usually ask for its formation documents and good-standing record.

New York transfer taxes: Real estate transfer tax. New York taxes conveyances of real property or interests in it; the base tax is generally paid by the seller, but the buyer must pay if the seller does not or is exempt. Higher-priced residences and certain New York City conveyances carry additional taxes. Your Loan Estimate or closing statement lists what applies to your deal.

Where the numbers point in New York

Counties with the most investor loans on 2-4 unit properties (2024):

CountyInvestor loans on 2-4 unit properties (2024)
Kings County1,401
Queens County1,019
Bronx County536
Erie County507
Monroe County437
Albany County381
Richmond County329
Westchester County324
Onondaga County231
Rensselaer County217
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Blanket Mortgages by city in New York

Common questions

Can I sell one house that is on a blanket loan in New York?

Usually, if the loan has a release clause. You pay a release price set in the loan documents, and the lender removes its lien from that home so the sale can close. Release prices are often higher than the home's share of the balance. Ask how the price is figured and how long a release request takes before you list the property.

Can I add a property to a blanket mortgage later?

Some lenders allow a property to be added or substituted, and others require a fresh loan. Substitution, where you swap one home for another of similar value, is sometimes written into the release terms. Ask about it up front if you expect to trade properties, and get the rules in writing, since they vary widely by lender.

How are taxes and insurance handled on a blanket loan?

Each property keeps its own tax bill and insurance policy. Some lenders collect escrow for every address, while others ask you to pay directly and show proof. A lapse on one policy can be a default on the whole loan, so set reminders for every renewal and make sure the lender is named correctly on each policy.

Other investor loans in New York

DSCR loansDSCR requirementsDSCR down paymentAirbnb / STR loansHard money lendersHard money for a primary homeFix and flip loansInvestor bridge loansPortfolio lendersInvestment property loansHELOC on a rentalInvestor cash-out refiSecond home loansInterest-only investor loansPrivate money lenders

Related guides

Blanket Mortgages overview · New York investor loan overview

  • 2024 HMDA data
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