DSCR Cash-Out Refinance
Turn equity in a rental you already own into cash for your next acquisition, renovation or reserves.
How it works
The new loan is sized on the property's current appraised value and its rent. It pays off what you owe today, and the difference, after closing costs, comes back to you.
What to expect
- Maximum loan-to-value is usually lower on cash-out than on a purchase
- The property still has to meet the program's minimum DSCR at the new, larger payment
- Lenders typically want to see how long you've owned the property
Common uses
- The down payment on another rental
- Paying off a hard money or bridge loan
- Funding repairs that raise the rent
Check the new payment against the rent with the DSCR calculator before you apply.
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