Cash-out refinance for investment property. Qualify on rent, not income.
Pull equity out of a rental, up to 70% LTV. Or refinance off a fix-and-flip or bridge loan into a 30-year DSCR loan.
No tax returns. Close in your LLC. Foreign nationals welcome.
Get your same-day term sheet
A few quick questions. No credit pull.
What is the loan for?
Tap one.
Program snapshot
- Cash-out LTV
- 70%
- Rate/term refi LTV
- 80%
- Foreign investor cash-out
- 65%
- Tax returns
- Not needed
- Term
- Fixed, ARM or interest-only
- Close in
- 30 days
What you get
- Qualify on the property's rent. No W-2s, pay stubs or tax returns.
- Cash-out up to 70% LTV. Rate/term refinance up to 80%.
- Close in 30 days
- Refinance off hard money or bridge loans after the rehab (BRRRR)
- Close in your name or an LLC
- Single-family, 2-4 units, condos, townhomes and short-term rentals
- Interest-only options to keep cash flow high
Term sheet
Same day
Who it's for
- Holding a rental with equity you want to reinvest
- Finishing a BRRRR and moving off a short-term loan
- Self-employed with hard-to-document income
- A foreign national owning U.S. rental property
What is an investment property cash-out refinance?
A cash-out refinance replaces the loan on a rental you own with a larger one and pays you the difference in cash.
Investors use it to move equity into the next deal without selling.
On a DSCR cash-out refinance the new loan qualifies on the property's rent, not your income. No tax returns or pay stubs.
The limit is 70% of the appraised value for U.S. residents and 65% for foreign nationals.
A rate/term refinance (no cash out) goes up to 80% LTV. Use it for a better rate or to move off a short-term loan.
How much cash can I take out?
Your rental appraises at $500,000 and you owe $220,000. At 70% LTV the new loan is up to $350,000.
Pay off the old loan and about 3% in closing costs ($10,500). Roughly $119,500 comes back to you.
The rent must still cover the new payment. Check the ratio with the DSCR calculator first.
The numbers
- Appraised value
- $500,000
- New loan (70% LTV)
- $350,000
- Pay off current loan
- -$220,000
- Closing costs (about 3%)
- -$10,500
- Cash to you
- $119,500
Illustrative example. Subject to appraisal and underwriting.
Refinance out of a fix and flip or bridge loan
Buy, rehab, rent, refinance, repeat. Finish the renovation on a short-term loan and lease the property.
Then refinance into a 30-year DSCR loan on the new appraised value. The cash-out returns much of what you put in for the next property.
Seasoning (how long you must own the property before a cash-out on the new value) varies by lender and program.
Share your purchase date and we match a lender that fits.
What you need
- The property address and estimated value
- Current loan balance and lender
- Lease or market rent
- Purchase date and any renovation done
- Entity documents if it's held in an LLC
From request to funded
Send the deal
Property, value, current balance and rent.
Same-day term sheet
Loan amount, rate and cash to you. No hard credit pull.
Close in 30 days
Appraisal, payoff and closing.
Frequently asked questions
What is the maximum LTV on an investment property cash-out refinance?
70% of the appraised value for U.S. residents on a DSCR cash-out. 65% for foreign nationals. A rate/term refinance goes to 80%.
Do I need tax returns?
No. A DSCR cash-out refinance qualifies on the property's rent compared with the new payment, not on your personal income.
How soon after buying can I do a cash-out refinance?
It depends on the lender and program. Some allow a cash-out on the new appraised value within months. Others want longer.
Share your purchase date and we match the right lender.
Can I refinance a property held in an LLC?
Yes. Most investor refinances close in an LLC.
Can foreign nationals do a cash-out refinance?
Yes, up to 65% LTV, with no SSN or U.S. credit required.
Sources
Related
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Term sheet the same business day. No hard credit pull.