A blanket mortgage or a blanket trust deed is a loan covering two or more properties with the same terms for all properties under the same mortgage.
A blanket mortgage is used to buy or refinance multiple properties under one loan, making it easier for a real estate investor to receive the same terms for multiple properties. It is often offered by commercial lenders for real estate investors such as landlords who plan to buy and hold properties for long-term investments.
A blanket mortgage can be easily divided per asset or property, so the investor would not need to refinance the loan or pay in full each time a property is sold. This feature can be useful for flippers, landlords, and even land developers.