Skip to main content
Apply nowApply now
Direct private lending in most states
Call us anytime at 512-617-9400
Program 08
Portfolio Loans in San Francisco
One blanket loan across your San Francisco Bay Area rentals.
Built for investors who own multiple properties. Roll five or more rentals into one blanket loan with a single payment, free up capital to keep scaling, and release individual properties as you sell. A Bay Area portfolio usually pairs higher-yield East Bay doors with trophy San Francisco holdings, each sitting on its own transfer tax schedule, rent regime and county tax stack. Business-purpose only, and every structure is set in underwriting.
5+
properties
1
blanket loan
Single
payment
Most states
lending
Typical figures, subject to underwriting and market conditions. Not a commitment to lend.
How it works
Instead of a separate mortgage on every door, we structure one blanket loan secured by the portfolio, with the option to release individual properties as you sell them. It is built for investors scaling past a handful of rentals.
Who it's for
Investors with 5+ rentals
Buy-and-hold portfolios
Blanket / cross-collateral
Cash-out to keep scaling
Typical terms
Properties5 or more
StructureBlanket / portfolio
Loan amount$500K and up
TermCustom, short to long
PaymentSingle consolidated
ReleaseIndividual properties
*Typical terms, subject to underwriting and market conditions.
Run your Portfolio Loans numbers.
Pressure-test the deal in seconds with our free portfolio loan calculator, no sign-up required.
Local FAQ
Portfolio Loans in San Francisco, answered.
Why does a blanket loan make sense for a Bay Area rental portfolio specifically?
Because scale here usually means two very different kinds of doors held at once. Ten doors in Richmond at a July 2026 mid-tier value of $610,065 each come to $6,100,650, which buys about 4.3 doors in the City of San Francisco at $1,416,278. Investors scaling in this metro tend to accumulate East Bay flatlands doors for yield and hold San Francisco trophy assets for appreciation, and a single blanket facility with one payment is a simpler way to finance that split than a separate note on every property. See DSCR loans if you would rather finance doors one at a time. Subject to underwriting.
Does a portfolio spanning San Francisco and the East Bay mean juggling different rent rules on every door?
Yes, and it is the diligence item most out-of-state portfolio buyers underrate. San Francisco caps rent increases only on units first occupied on or before June 13, 1979, with newer stock exempt from the cap but still bound by just-cause eviction rules. Oakland runs its own rent adjustment and just-cause ordinances, with their own coverage cutoff and annual cap, and Berkeley runs a separate annual adjustment of its own. A five-county book can straddle all of it on the same closing, plus five different ad valorem tax stacks. Confirm the certificate of occupancy date and applicable ordinance on each parcel before it goes into the pool, not after.
If I release a San Francisco property from the portfolio to sell it, does the city's transfer tax change what I net?
It can, and the cliffs matter more than the rate. San Francisco's transfer tax is tiered on the entire sale price, not just the amount above each threshold: a property selling at $9,999,999 owes $225,000, but the identical property at $10,000,000 owes $550,000, a $325,000 jump for crossing one dollar. The lower brackets that cover most single-family and small multifamily releases run 0.50% to 0.75%. Price a planned release with the applicable bracket in mind, especially on a larger asset near one of the cliffs. Buying or holding the property in an entity does not avoid the tax either: San Francisco's own guidance states the transfer tax reaches transfers involving legal entities that own city real property when those entities change control.
I want to title my portfolio's single-family rentals in an LLC. Does that affect which doors are subject to a rent cap?
It can, on the doors that would otherwise be exempt. California's statewide rent cap (Civil Code section 1947.12) exempts alienable single-family homes and condos from its increase limit, but only where the owner is not a corporation, a REIT, or an LLC with a corporate member, and only with written notice of the exemption given. A single-family San Francisco Bay Area rental bought into an LLC with a corporate member loses that exemption in the same act that titles it for liability protection. This is a legal question that turns on your specific entity structure, so confirm the exemption's application with your attorney before you set the pool's structure.
How should property taxes be underwritten across a multi-county Bay Area portfolio?
Parcel by parcel, at the price paid, never at the seller's bill. Every purchase in California resets the assessed value to what you paid, so the seller's prior tax bill understates the buyer's first full year, sometimes by a large multiple on a property held a long time. A purchase closing between January 1 and May 31 also produces two supplemental tax bills outside the normal December and April cycle, rather than one. San Francisco's own regular assessment appeal window is the one calendar we can give you: it runs July 2 through September 15 for FY 2026/2027, and the Assessment Appeals Board states it will not accept late applications, no exceptions. The equivalent appeal deadlines for Alameda, Contra Costa, San Mateo and Marin counties vary county by county, so track each county's own calendar directly rather than assuming San Francisco's date applies metro-wide.
Does insurance work the same way across every property in a Bay Area portfolio?
No, the risk profile shifts by county even inside one metro. California FAIR Plan policy concentration, a proxy for admitted-market insurance strain, runs roughly 17.2 policies per 1,000 residents in Marin County and 11.0 in Contra Costa, against 2.9 in San Francisco County itself, which is the wildfire exposure gradient in this metro made visible. Earthquake coverage is also a separate policy from a standard homeowners or landlord policy everywhere in the metro, and the California Earthquake Authority restricts homes with a dwelling coverage limit above $1,000,000, and pre-1980 homes on a raised foundation without a verified retrofit, to a 15%, 20% or 25% deductible rather than a lower one. A San Francisco door and a Marin door in the same portfolio are not the same insurance conversation. Insuring a single San Francisco asset instead? See San Francisco conventional investment terms. Tell us about the portfolio and we will tell you what the file needs.
How many doors and how much loan do I need before a San Francisco Bay Area portfolio loan makes sense?
Five or more properties, and $500,000 and up in loan amount. In this metro the loan minimum is rarely the binding one: five Richmond doors at that city's July 2026 mid-tier value of $610,065 is $3,050,325 of property (5 x 610,065 = 3,050,325), and a single City of San Francisco asset at $1,416,278 clears $500,000 of debt on its own. The door count is the real threshold. Below five properties, financing them individually usually makes more sense. Subject to underwriting.
How long is the term on a San Francisco Bay Area portfolio loan, and what happens when I sell a door?
The term is custom, and individual properties can be released. We size the term to the book rather than dropping it into a fixed product, which matters on a pool that straddles five counties, several rent regimes, and five separate ad valorem tax stacks. The whole pool runs on a single consolidated payment, and when you sell one property, that property is released from the blanket instead of the facility unwinding. Price a planned San Francisco release against the applicable transfer tax bracket before you list it. Subject to underwriting.
More Portfolio Loans questions, answered on the program page
Resources
Guides for Portfolio Loans
Rental / DSCR · 5 min read
What Is a DSCR Loan? How Investors Qualify on Rental Income
Read the guide Strategy · 6 min read
Financing the BRRRR Method: Buy, Rehab, Rent, Refinance, Repeat
Read the guide Rental / DSCR · 5 min read
How to Finance a Rental Property in an LLC
Read the guide Strategy · 5 min read
How to Scale a Rental Portfolio
Read the guide Compare
Portfolio Loans vs. other options
More in San Francisco
Other programs in San Francisco
Fix and FlipUp to 90% / 100% rehabRental / DSCR30-yr fixed, DSCR from 0.75Ground-Up ConstructionUp to 70% LTV, most statesCRE BridgeUp to $10M, 24-36 moTransactional FundingSame-day double-close capitalBank Statement / No-DocNo tax returns requiredConventional InvestmentNon-owner-occupied investmentCRE PermanentLong-term agency & permSBA Financing7(a) & 504 placement
About the local figures on this page
Local rules move. Every tax rate, fee, ordinance and market figure here comes from a primary source and carries the date we read it, and we correct them as the rules change. Where a number is mid-change or we could not verify it, we say so rather than guess. Before you commit a budget, confirm anything that drives it with the city or county, and talk to your attorney or CPA on questions of law or tax.
Published by USA Mortgage Funding, LLC, NMLS #152588. Researched from primary sources by our team, drafted with AI assistance, and every figure checked against its source before publishing. Where an answer rests on a public record, that record is linked under it. Figures read on 2026-08-21.
Funding San Francisco deals fast.
Get real terms, usually same day. No obligation, no hard credit pull to start.