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DSCR cash-out refinance
Take equity out of a Texas rental property with no seasoning and no income verification. Up to 80% of the property’s value.
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Qualify on the rent, not your income. Send the deal and a loan officer follows up with your rate and terms.
Estimate only. Loan amount is up to 85% of the purchase price on purchases, or up to 80% of the appraised value on cash-out refinances. Minimum loan $150,000. Rate and final terms depend on the property, the rent and your credit. Business-purpose loans on investment property in Texas.
How a DSCR cash-out refinance works
We appraise the property, lend up to 80% of its current value, pay off your existing loan and send you the difference. The loan is qualified on the rent, not your income.
| Example | Amount |
|---|---|
| Appraised value | $300,000 |
| 80% loan-to-value | $240,000 |
| Current loan payoff | $150,000 |
| Cash out before closing costs | $90,000 |
No seasoning
Many lenders make you own a property for 6 to 12 months before they will lend on its new value. We do not require seasoning, so you can refinance as soon as you buy or finish a rehab. That is what makes the BRRRR strategy work. More on this in no seasoning cash-out refinance.
What you can use the cash for
Anything business-related: your next down payment, a rehab, paying off a hard money loan or building reserves.
Questions investors ask
How much cash can I take out?
Up to 80% of the appraised value, minus your current loan payoff and closing costs.
Do I have to wait before refinancing?
No. There is no seasoning requirement.
Do you check my income?
No. The loan is qualified on the property’s rent.