Syracuse Triplex - Leveraging Equity

[Chris Bauer]

We own a 3 family in Syracuse, NY that is paid off and held in an LLC. We are looking to leverage some equity for our next purchase but can't decide on a cash out refi or a heloc. We know heloc's can be tougher with IP's… any suggestions or recommendations? For strategy or lender? Thank you!

[Bobby Feinman]

@Chris Bauer great question. Our DSCR loans allow up to 75% cash out. Not sure how much you were looking for and how that compares to a HELOC. One big advantage to our DSCR loan vs a HELOC is the underwriting. We do not require tax returns or proof of income and there are no debt to income ratios. Credit score and LTV drive the rate and the DSCR calculation (income/payment) determines the max loan amount. Hope that helps you some.

Happy to jump on a call to discuss further.

Bobby