90-100% LTV DSCR Cash out refinance ?

Banker · Miami, FL · Member since 2021 · 37 posts · 11 votes

Just curious to see, are there any DSCR lenders out there that offer 90-100% LTV Cash out refinances on a 2 unit, multi family property? Not sure if this is a thing or not!

0 Reply

92 views

6 Replies

Jump to latestLatest

Sort by

Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
1y
Quote from @Hai Le:

Just curious to see, are there any DSCR lenders out there that offer 90-100% LTV Cash out refinances on a 2 unit, multi family property? Not sure if this is a thing or not!

This is not a thing, DSCR loans will go 75-80% cash out.
7e investments53 Reviews
Website View Page
0 Reply
Shafi Noss
Lender · Nationwide · Member since 2018 · 571 posts · 310 votes
1y
2-4 Units often have a lower cashout limit than single family.

If you are trying to maximize cashout many programs nowadays ask for 4 months of PITI prepaid which reduces your cashout, so finding a program that doesn't ask for that is basically equivalent to an extra 2-5% cash at closing.
0 Reply
Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
1y
Quote from @Hai Le:

Just curious to see, are there any DSCR lenders out there that offer 90-100% LTV Cash out refinances on a 2 unit, multi family property? Not sure if this is a thing or not!

Hey Hai,
I think you might be confused. Many DSCR lenders will lend up to 75-80% LTV on the new appraised value typically after 90 days of owning the property. Theoretically if you bought the home for $200,000, put $75,000 in Reno and the property appraises for $380,000, you should be able to pull out 100% of your initial cost at a 75 LTV on the new appraised value.
[email protected]818-269-7983
LuxePrivate Investments LLC 572 Reviews
Website View Page
0 Reply
- Hai Le
  OP
  Banker · Miami, FL · Member since 2021 · 37 posts · 11 votes
  1y
  Quote from @Erik Estrada:
  
  Quote from @Hai Le:
  
  Just curious to see, are there any DSCR lenders out there that offer 90-100% LTV Cash out refinances on a 2 unit, multi family property? Not sure if this is a thing or not!
  
  Hey Hai,
  I think you might be confused. Many DSCR lenders will lend up to 75-80% LTV on the new appraised value typically after 90 days of owning the property. Theoretically if you bought the home for $200,000, put $75,000 in Reno and the property appraises for $380,000, you should be able to pull out 100% of your initial cost at a 75 LTV on the new appraised value.
  I know you can take out 100% of your initial cost in that case. I was just wondering if for example I owed 150k on a property that’s worth 250k if there’s any lenders that do 90-100% LTV loans that allow me to pull out $75,000-100,000 of equity. If that’s even a thing that’s not a VA loan
  0 Reply
- Erik EstradaBusiness Member
  Lender · Member since 2022 · 6k+ posts · 1k+ votes
  1y
  Quote from @Hai Le:
  
  Quote from @Erik Estrada:
  
  Quote from @Hai Le:
  
  Just curious to see, are there any DSCR lenders out there that offer 90-100% LTV Cash out refinances on a 2 unit, multi family property? Not sure if this is a thing or not!
  
  Hey Hai,
  I think you might be confused. Many DSCR lenders will lend up to 75-80% LTV on the new appraised value typically after 90 days of owning the property. Theoretically if you bought the home for $200,000, put $75,000 in Reno and the property appraises for $380,000, you should be able to pull out 100% of your initial cost at a 75 LTV on the new appraised value.
  I know you can take out 100% of your initial cost in that case. I was just wondering if for example I owed 150k on a property that’s worth 250k if there’s any lenders that do 90-100% LTV loans that allow me to pull out $75,000-100,000 of equity. If that’s even a thing that’s not a VA loan
  Got it!
  Not on an investment property. However there are lenders that can go up to 90% CLTV (HELOC) on a primary residence.
  [email protected]818-269-7983
  LuxePrivate Investments LLC 572 Reviews
  Website View Page
  0 Reply
Simmy AhluwaliaPro Member
Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
1y
Negative, not a thing. The best-case scenario is 80% cash-out (your dscr and credit have to be solid).
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.