Investment Property Cash-Out Refinance
Own a rental property with equity? Put it to work. We offer 30-year fixed cash-out refinance loans on non-owner-occupied single-family investment properties — no income documentation required on DSCR programs. Pull equity to buy more, renovate, or consolidate debt.
Program Highlights
- High-leverage cash-out on single-family investment properties
- No income docs on DSCR programs — property cash flow qualifies
- 30-year fixed, 5/1 ARM, 7/1 ARM, interest-only options
- Minimum 620 FICO (660+ for best pricing)
- Loan amounts from $200,000 to $3M+
- Close in 14–21 business days
- LLC and individual borrowers eligible
- Texas and 43 states
How Much Can You Access?
Your cash at closing is the new loan amount, less whatever you still owe on the property, less closing costs. We lend at high leverage against the appraised value on cash-out programs. The exact percentage depends on the property, its rent and which program fits, so we quote it on your deal rather than publish one number that would be wrong for most borrowers.
Two things move it more than anything else: the appraisal, which sets the ceiling, and your existing balance, which comes off the top. A property owned free and clear releases substantially more than the same property carrying a mortgage. Send us the address and the current payoff and we will put the real figure in writing — no fee, no obligation.
How We Qualify Without Tax Returns
DSCR Qualification
Monthly rent ÷ monthly payment (PITIA). If rent covers the payment (DSCR 1.0+), you qualify. No personal income needed.
Asset Depletion
Liquid assets divided by 360 = monthly qualifying income. For investors with savings, investments, or retirement accounts.
Investment Property Cash-Out Loan Terms
| Feature | DSCR (30-yr) | Hard Money (Short-term) |
|---|---|---|
| Max LTV | High, quoted on your deal | High, quoted on your deal |
| Term | 30-yr fixed or ARM | 6 mo – 3 yr |
| Rate | Quoted on your deal | 9% – 13% |
| Income docs | None (DSCR) | None |
| Close time | 14–21 days | 5–10 days |
| Credit min | 620 FICO | 580+ or none |
| Best for | Long-term hold, lower rate | Speed, credit issues |
Why Investors Use Cash-Out Refinance Instead of Selling
Selling a rental to access equity triggers capital gains taxes — potentially 15–20% on long-term appreciation plus depreciation recapture. A cash-out refinance delivers tax-free proceeds (loan proceeds are not income) while you keep the asset and continue collecting rent. For most investors with appreciated properties, it’s the superior option.
The extracted equity can then be redeployed: a $200,000 cash-out at 25% down on new acquisitions can fund the purchase of $800,000 in additional rental property — multiplying your portfolio without selling anything.
Eligible Property Types
- Single-family rentals (SFR) — the most common, easiest to underwrite
- 2–4 unit properties — duplex, triplex, fourplex (residential financing applies)
- Condominiums — warrantable and non-warrantable eligible on select programs
- Short-term rentals (Airbnb, VRBO) — STR income used to calculate DSCR
- Vacation homes rented seasonally — classified as investment property if primarily rented
Investment Property Cash-Out FAQ
How soon after buying can I do a cash-out refinance?
Most DSCR programs require a minimum of 6 months seasoning from the purchase date before allowing a cash-out refinance. Some portfolio programs allow cash-out with no seasoning if you paid cash or used hard money to purchase. If you bought recently and want to pull equity, let us know the purchase date and we’ll identify the right program.
Do I need a tenant in place to qualify?
No. For properties between tenants or newly purchased, we use a market rent schedule from the appraisal rather than an actual lease. The appraiser surveys comparable rents in your market and provides a market rent estimate — that’s what we use for DSCR calculation. A lease helps, but it’s not required.
Can I cash out a property owned in an LLC?
Yes — we lend to LLCs, LPs, and other entities on investment property cash-out programs. LLC lending typically requires a personal guarantee from the managing member. Entity vesting does not change the program terms in most cases.
What credit score do I need?
Most DSCR cash-out programs require a 620 minimum FICO score. Better pricing is available at 660+ and the best rates start at 720+. If your score is below 620, our hard money cash-out program (see above) may be an alternative — hard money is more credit-flexible but carries higher rates and shorter terms.
How is the DSCR calculated on a short-term rental?
For STR properties (Airbnb, VRBO), we annualize the net STR income from 12 months of hosting history, then divide by 12 to get a monthly figure. We compare that monthly figure to the new loan’s monthly PITIA. If you don’t have 12 months of history, the appraiser provides a market STR rental estimate based on comparable listings in your area.
Ready to put your equity to work? Apply for an investment property cash-out today — free quote, no hard credit pull.