DSCR Rate-and-Term Refinance
Refinance a rental you already own to change your rate, your term or your loan type, qualified on the property's rent.
Why investors refinance
- Move from an adjustable rate or a balloon to a long-term fixed payment
- Get out of a short-term loan once the property is stabilized
- Take the loan out of your personal name and into an LLC, where the program allows it
- Lower the monthly payment to improve cash flow
What's different from a cash-out refinance
A rate-and-term refinance pays off the existing loan and closing costs without putting meaningful cash in your pocket. If you want to pull equity out, see cash-out refinance.
Seasoning
Many programs ask how long you've owned the property before they'll use the new appraised value. If you bought or finished a rehab recently, tell us the dates so we can match you with a program that fits.
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