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Investor

Pull equity out of a rental to buy the next one.

A DSCR refinance replaces the loan on an investment property, or takes cash out up to 75% of value, using the rent to qualify. It is the standard tool for recycling equity into the next purchase.

Qualifies onRent vs. payment (DSCR)
Cash-outUp to 75% of value
Minimum credit660
VestingPersonal name or LLC
See if I qualifyCall (800) 511-3330
4.4 on Google · 214 reviewsNMLS 13988Licensed in 15 states + DC
Who it's for

Is the DSCR investor refinance right for you?

  • Investors who bought with cash or hard money and want long-term financing
  • Owners with a bridge or balloon loan coming due
  • Landlords pulling equity for the next property
  • Anyone moving a rental from a personal name into an LLC
How it works

Three steps from here to closing.

Run the ratio

Current lease or market rent divided by the new payment.

Application and appraisal

Appraisal with a rent schedule, credit and reserves.

Close

Two to four weeks. Cash-out usually requires six months of ownership.

What you'll need

Requirements at a glance.

  • DSCR of 1.0 or higher
  • Credit score of 660 or higher
  • Loan-to-value up to 80% rate-and-term, 75% cash-out
  • Reserves of 3 to 6 months
  • Property seasoning of six months for cash-out (some programs less)
Straight talk

The upside, and what to weigh.

Why people choose it

  • No personal income documentation
  • Cash out to fund the next purchase
  • Refinance a hard-money or bridge loan into 30-year fixed

Things to consider

  • Prepayment penalties are common
  • Lower loan-to-value than owner-occupied cash-out
Common questions

Asked on almost every first call.

How soon after buying can I refinance?

Usually six months for cash-out; sooner with delayed-financing programs.

Do I need a lease?

A current lease helps; otherwise the appraiser's market rent is used.

Can I refinance several properties at once?

Yes, individually or with a portfolio loan for larger investors.