Multi-Property Blanket Mortgages in Florida
Multi-property blanket mortgages in Florida enable portfolio-level financing across diverse property types and locations, with underwriting based on aggregate collateral value and cash flow.
Underwriting Standards
Florida lenders evaluate blanket mortgage applications holistically: individual property appraisals, aggregate loan-to-value ratios (typically 65-75% for commercial), combined debt service coverage (minimum 1.25x), borrower experience, and portfolio diversification. Properties in multiple Florida counties require recording in each county.
Due-on-Sale Restrictions
Most Florida blanket mortgages include due-on-sale clauses preventing transfer without lender consent. Selling individual properties requires partial release approval. The lender ensures that remaining collateral adequately secures the outstanding balance after each release.
Related Terms
Barnes Walker Real Estate
Barnes Walker handles multi-property financing for Florida investors. Contact us for real estate finance guidance.
Florida Law Reference
Fla. Stat. Ch. 697
Defines mortgages as liens on real property and establishes requirements for mortgage creation, assignment, and satisfaction in Florida.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC